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Hello,   Thank you for the step-by-step instructions. However, the rental property asset and depreciation information always transferred from year over year, automatically by TurboTax. The only manual entry was if there was a new asset that needed such as renovation, etc. So, I believe the person who wrote the original post, as well as I, am really seeking for this information transfer by TurboTax, like it used to for so many years.   Could you please help restore this functionality or escalate to whom might be able to?   Thank you, Michael

Hi Patricia,   Thank you for your response. I confirm that I have tried clearing my return and starting over. I cleared and restarted on TurboTax AND cleared browser history and tried on multiple browsers: Google Chrome and Microsoft Edge.   For many previous years, the rental property asset information simply transferred over from year over year. I have never had to manually enter rental property asset information, unless I was adding an renovation, etc. For current year, none of the previous years' rental property asset information is transferring over.   I have confidence in TurboTax and trust that you or somebody on your team can fix this.   Thank you, Michael

@Lemgirl58 because that executive order is "squisky".   If you requested a paper check for your refund, you will receive a letter from the IRS explaining how to provide your banking information so they can electronically send you the refund.   if you ignore the letter, they will send the paper check around 4-6 weeks later.    The IRS is caught between the executive order and the fact that the IRS is required to pay interest on any refund held for more than 45 days (the clock begins on tax returns the later of the date the tax return is accepted or April 15)

@zenitram2  Please note that you have no choice about how or when your capital loss carryover is used. The carryover loss must first be used to offset any gains. There are no options. You cannot defer using the loss, or use only part of it. There is only one way to do the calculation. TurboTax does the calculation as required by the tax law.  

Another way to put it.....the $3,000 is the max loss you can take AFTER applying the carryover to the current gains.  Didn't you want to use all the carryover up?     Each year you get to first offset the carryover loss against any gains you have each year so that can use more of it up. Then after applying the loss to the current gains if there is still a loss, you can take a max loss of 3,000 per year.     And you can't skip a year.  

you are incorrect. if current year's net capital gains exceed the prior year's capital loss carryover, the entire carryover is applied to the current year's gains not just $3,000. $3,000 of net capital losses is just the limit of what you can deduct against other income. 

Im sorry but this does not address my problem. I am aware i can adjust the prior depreciation and i did that to fix this years return but the basic problem still remains.    Turbo Tax seems to be assuming that you have had the same amount of business use each year and is adjusting the depreciation to what that amount would total up to over the period of ownership. So no matter what i do it keeps readjusting it.    What it should be doing is taking the prior depreciation and just adding the purchase price/27.5. and then reducing by the business use %.   Why does it not do that?

I have a small business sideline as an independent contractor.  I have always told TurboTax that I materially participate in the business.  I'm the sole owner and report 1099-NECs and sometimes some cash.  My printed Schedule C always says the following, as it does this year for the 2025 return:   Line G:  Did you materially participate?    YES Line H:  If you started or acquired business in 2025 check here.  NO checkmark, since longstanding. Line I:  Did you make any payments that require you to file Forms 1099?    NO   I always check my IRS transcript after my return has started processing, and this is what it shows:   Account method: Cash Materially Participate: N First time Schedule C filed: No Statutory employee: No   Does N stand for No? If so, that's the only place on my transcript where "no" or "yes" is not spelled out. Why would it suddenly show "N" instead of using the complete word "No?"  Furthermore, it should not be a No. I don't understand why it just doesn't say "yes." On my end there is a YES for "material participation" clearly indicated both on the printed Schedule C and inside the Online interview when I returned to view it. (Actually the online interview asks it in reverse; it has a list of statements, and one of them says "I did not materially participate," and one would have to actively check that if they did not participate. Mine is indicated correctly; I did not checkmark that.) And on the Business profile summary page it says that I actively participate.   My business always has a net profit, and since there is no loss deduction, I realize it's likely a moot point. But I was curious as to whether there is any explanation. Thanks!

You said that right, "should". With everything entered correctly on the Federal return (followed the Intuit guide on their website for backdoor Roth), the MA return still shows the contribution as taxable income.