Unfortunately, even with the 2/20 update, the Form 4562 does not generate accurately if you have more than one rental property from the online/computer interface. Although there should be a separate Form 4562 for each property, when questioning the TurboTax AI assistant, it states that TurboTax generates a single Form 4562 that compiles data for all properties. Unfortunately, the single Form 4562 that is generated only has the data for Property A from the Schedule E. All appropriate data for Property B is represented accurately on the Schedule E (particularly Line 18); however, that data is not compiled on the Form 4562. That is, Line 17 on Form 4562 only has the data for Property A from Line 18 of Schedule E. Additionally, the business/activity identified at the top of the form is only that of Property A. This bug directly impacts the state return that uses Form 4562 directly as well. I spent more than an hour with a nice and helpful tax expert where we exhausted all plausible troubleshooting. She brought in a tech specialist who had me delete all cache/cookies and even download a different browser, clear the cache/cookies, and regenerate the review forms. All the same problems exist. Please correct this bug in the code to ensure that all data from multiple rental properties are represented on 4562 forms and let the community know when complete! Thank you!
