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No, you don't enter individual assets in Form 3115. TurboTax will accrue the proper accumulated depreciation when you sell the asset regardless of what you entered, as per IRS regulations. The program will also enter the correct depreciation in the current year based on the cost, date put into service and the type of asset entered. So, it isn't necessary to make an adjustment to actual depreciation entered.   [Edited 2/17/26 at 3:58 PM PST] @annmci 

I have now tried three different browsers.  I have allowed local access on all three.  I have disabled my anti-virus software.  I have even gone to a church, a synagogue and a mosque.  Nothing wants to work.  

First, the maximum possible credit is $1,000 (50% of a maximum of $2,000 of contributions).   Second, if you received any distributions from qualified retirement accounts (IRAs, 401(k)s, etc.) during the year, these reduce the amount of new contributions that are considered when calculating the credit.

If you sold the house at a loss then yes, you can take the long-term loss on your tax return.  But there are other things you have to take into consideration.   If you received an insurance settlement in order to fix up the property but then decided to sell it the insurance settlement is seen as reimbursing you for your loss.  So make sure to reduce the loss by any insurance settlement received.   If you took a loss from a disaster declaration already then that can be seen as reducing your basis in the property.  SO reduce your basis in the property by any disaster loss that you have already taken.    

Treat this as a long-term capital loss. If the house remained unoccupied 1 1/2 years after your parents death, this would be a long-term capital loss if you are the beneficiary of the inheritance. All inherited property sales, whether they are foreign or domestic, are considered long-term in terms of capital gains or losses under IRC 1223(9).   This is a good thing, especially if you have future investment income that this loss can be applied to. For example, if your long-term capital loss is $15,000 but no investment income this year, you can only claim $3000 for this year and carry over the remaining $12,000. But if you have capital gains this year from other investments, more of that capital loss can be applied.   Since it is a carryover, you can apply the carryover amount to offset future capital gains. In this instance, you may not be able to claim future foreign tax credit carryovers, but you can certainly claim carryover capital losses.    Since you said that the tax was based on the money, not the money, this would be a tax that can be deducteed or credited. As I said before, you can't mix up foreign income credits or deductions. But if you paid $15,000 tax on income that the U.S. doesn't recognize because of the basis step-up (the FMV at death), you may be able to argue that it's a 901(m) tax and reported on Schedule A as I suggested earlier.   @JackSpaniel             

Thanks for this in-depth reply.    1) I checked the1099-R for the $5800 plus earnings and only "J" by itself is noted.  This is a relief as it was removed from the Roth in 2022 to stop a 6% tax going into perpetuity from the 2020 excess reporting.   By taking out the "recharacterized to Trad" the Form 8606 went away for TY 2020 and only the Form 5329 is there now.      2)  The excess was originally reported on Form 5329 in both 2020 and 2021 and taxes were paid.  I caught it in 2022 when I saw we had been taxed in 2020 & 2021 and learned about the income limits.    In my first reply, I had inadvertently thought that 2020 was backdoored also and I had to amend for pro rata (turns out the funds were put in our joint account).   So no pro rata for 2020, but definitely pro rata for 2021 - 2024 as our advisor did not ask if we owned a SIMPLE when he started the back doors.      My plan going forward is to include the SIMPLE year end balances on Form 8606 for TY 2021 - 2024 (basis should roll into the next year as I amend)  I know I will be owing taxes on all those years but it needs to be corrected.  I believe this is the right direction?    

On the IRS website you must enter everything as is on your filed federal tax return Form 1040 - https://www.irs.gov/refunds Your Social Security number Your Filing Status The federal tax refund as shown on the Form 1040 line 35a   To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download/print return (PDF)