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Investors & landlords
I'm looking at it now, here is what I see.
-I go to the Rentals and Royalties screen.
-I select the edit button (3 dots) on the right side for the newly added property.
-I already added my income (no issues there).
-I go to the add expense/asset tab and it already has the rental property checked since it obviously knows the property itself is an asset. That's the only thing im claiming as an asset at this time (good so far).
-I proceed to add my expenses (no issues there either).
-I press continue and it goes back to the rental property section.
-Down at the button under assets, it shows the words "New rental property", so it did recognize it, but it also says " needs review" press start.
-This is where it says Congrats for renting for the first year, so i press continue.
-The next screen asked me how I acquired the property, i chose "as a gift" and then continue. I tried all selections same result.
-The next screen tells me to gather my cost basis information then press continue, then go back to the Rentals and Royalties topic to enter my basis and depreciation in the assets section.
-So I do that, once I select edit the new property, this is where it starts a loop and always takes me back to Assets "Needs Review" press start.
I never get to a screen where it lets me add my basis and depreciation.
FYI-- I can easily go to my other rental property and see their date placed into service, basis and depreciation.
Sorry for long explanation.
March 28, 2022
6:09 PM