Investors & landlords


@pnored wrote:

I dont want something to be triggered with the IRS because I didnt include them.  I certainly dont want to enter them if I dont need to. 


It is you choice; you can enter the assets into TurboTax which should then show the assets as having been fully depreciated or continue to track them outside of the program.

 

One advantage of entering the assets into the program is the accumulated depreciation (and other data such as date of purchase, purchase price, et al) will carry over from year to year in your TurboTax tax file so the data will already be in the program if and when you sell the property.

 

Since the adjusted basis for the assets has been fully recovered through depreciation deductions over the years, there is nothing left to report to the IRS until such time as you dispose of the assets.

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