I am not talking about depreciating assets through expenditures.
Through expenditures? Depreciation is a type of expendicture, and one you're required to take.
@CarlSo why does Turbo Tax offer the option?
Turbotax does not offer an "option" to take depreciation or not. It figures the depreciation "for you" and gives you the opportunity to correct it, if for some reason it's wrong. From my experience with the program, it's never wrong on depreciation with one exception. That exception being the first year depreciation if you are renting out a part of your primary residence. The program still to this days figures it wrong in that specific and explicit scenario.
I am seeking a CPA after I file an extension for this year to get past the closing date of April 14.
The filing deadline has been extended to July 15 2020 for the 2019 tax filing season.
And would calling out for a South Denver, Colorado based CPA in this fashion here be permissible through TurboTax?
You'll need to seek professional help on your own in your local area. TurboTax does not do anything in the way of endorsing or recommending third party tax professionals.
You do have a mess, and most likely a CPA will need to file IRS Form 3115 with your 2019 tax return to fix this SNAFU. Just make sure you have your checkbook handy. Depending on the amount, I fully expect that what you're going to pay to the IRS is going to make what you pay a tax professional seem like a pittance in comparison. Hopefully I'm wrong for the sake of your wallet.
Finally, do not attempt the 3115 on your own. I can assure you it's not a simple as it looks. I think that's why TurboTax does not include or support that form.
