I have a few rental properties. I have been using TurboTax Premier for many years. The data from the previous year gets transferred to the present year. In preparing the tax return for 2021 in TurboTax Premier, when I tried to enter "Asset/Depreciation" section (before I could enter any information in this section), I received the following note:
"Depreciation and Amortization Under Construction
You’ve done a great job starting your taxes early, but the IRS is still working on finishing up Depreciation and Amortization area (form 4562) for 2021. This means this area isn’t quite ready yet.
Check back soon and we’ll help you finish up.
Let’s keep working on other parts of your return."
I cannot believe that IRS is still working on Form 4562 for the year 2021. Please help in decoding the meaning of this message from TurboTax. What do I need to do to complete the asset/depreciation information for completing my tax return?
