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Investors & landlords
That's another example of the TurboTax programmer's "boilerplate response". Bottom line is, if the total depreciation shown (prior year's and correct year) in the assets section is "in fact" correct, then the program will have no issues with dealing with it.
If it's not correct, then you would be right in clicking yes. Then, you personally would have to manually figure the total of all depreciation taken up to the the date of the sale, and you would have to report the sale of this property in the "Sale of Business Property" section of the program.
March 27, 2021
4:55 PM