KrisD15
Expert Alumni

Investors & landlords

Yes, the prior response is correct. 

 

TurboTax does have a depreciation schedule in the Federal forms, which reports accumulated depreciation, (reports prior depreciation and remaining basis). 

 

 

 

If the depreciation reported on your California return is the same as that of the Federal return (the depreciation did not need to be adjusted) Form 3885A is not used, it is not needed. That might be the reason why there was no entry on Form 3885A for your prior year California return. 

 

If a taxpayer is subject to Alternative Minimum Tax (AMT) , depreciation may need to be or would have been previously adjusted. 

You would know if this pertained to you, therefore if you don't know what AMT is, or you know you never had to make an adjustment, the Depreciation entered for AMT depreciation is the same as regular Depreciation. 

 

Normally the depreciation is carried over year after year when using TurboTax, but there are times when it might snag with a state return. 

If you need to look it up, I suggest you look at the schedule in the Federal return. This is easier to find using Desktop.  

 

 

 

 

 

 

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