Thanks for looking over my returns.
Item 1 (Carryforward of previous losses):
When I purchased the 2024 product and I started my return in late Jan., I followed the instructions to import my 2023 return.
You ask me if it is possible that I had an old file from 2023. I have no idea as the import was done by the Turbo Tax product. What do I need to due next to try to fix this issue. I would much prefer that the Turbo Tax program capture the carryforwards as they are from four properties and have complexity to them so I would prefer to try not to manually enter them.
Issue 2 (CA depreciation schedules-Form 3885A):
I sent you both my 2023 and 2024 tax returns. If you look at the 2023 tax returns and look on Form 3885A, you will see the following:
Julianas Way property:
Assets:
WH
Flooring
AC
On the 2023 3885A, the WH shows prior depreciation of $858 and current depreciation of $1,175, which means that the prior depreciation on the 2024 3885A-CA for this property should show as $1,175. The Flooring shows a total of $2,438 prior dep. and $900 current depreciation, so 2024 prior depreciation should show $3,338, it currently shows 0. For AC the prior dep. shows $2,548 and the current dep shows $941, so the 2024 3885A prior dep. should be $3,489.
My concern is that the calculation for the current depreciation (for CA only) for these assets is overstated as the system thinks that no prior depreciation has been taken.
There appears to be similar errors for the new AC asset for the Clint Ct. asset and the flooring on the 102 CP Loop property.
Thanks,
Chris
