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Investors & landlords
Thank you for your continued help Carl.
My 4562 form is fine now, but my 3885A is still wrong. 3885A is basically the same as 4562, but is a California form for a depreciation report for misc. investment assets not tied to a specific real property. I deleted all the assets in TurboTax and reentered them manually using the prior year's 3885A. During the question session, everything went well - the suggested prior depreciation amount is exactly the correct sum from last year. However when I printed out the tax records, the list of assets on 3885A with the initial costs is correct but depreciation basis and prior depreciation seem to be all random numbers. Prior depreciation on the form is not the same as that shown in the question session, and some of the depreciation basis is higher than the initial cost.
What else can I try? I am pretty sure my 3885A as-is is incorrect.