Hi,
For some reason TT premier online is not deducting depreciation from my rental property in 2020, despite it doing so in 2019. I imported it from last year, and only changed the income/expenses.
It's recognizing the imported rental property as an asset and calculating the depreciation correctly under the submenu in the questionnaire, but once I click complete, and go back, there is no value next to the asset and it doesn't subtract it from the income in the summary. In other words, the depreciated value doesn't show up in the summary for that particular property, despite it showing up and being calculated when you click edit.
In 2019 it did it all correctly.
Some info
Rental Property - Foreign
Asset Type - Residential Rental Real Estate
40 Year, MACRS MM, ALT
Date Started 2016
Business Use %100
Not Sold/Retired
Rented all year (366 days)
Active Participant
What am I missing or doing wrong?
