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Investors & landlords
Your answer doesn't help me. You are explaining the concepts which I understand pretty well and I'm asking for help with Setting up depreciation in Turbotax premier. As I stated the issue is that the old asset (property that was sold) was still being depreciated until Sept 2021 and one asset can't be in 2 places on the same return (also I need to split the asset between 2 replacement properties). So I need to set up a new asset for each of the 2 replacement properties (with the prior 7 years of depreciation) to represent the old property in each of the 2 new properties. How do I accomplish this in Turbotax Premier?
March 24, 2022
11:29 AM