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Investors & landlords
It is very frustrating that turbo-tax cannot manage this correctly. The program should tell me to calculate myself, or at least use the straight line depreciation that my accountant did if there truly is no IRS rule on how this should be calculated. Usaing the straight line method based on the original basis seems like the most logical thing to do.
There we're several other discrepancies and major issues in my previous tax year filings using TurboTAx regarding my 529 withdrawals. I had to Amend 4 years worth of returns because I was paying taxes on my qualified 529 withdrawals.
March 8, 2025
8:27 AM