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You can click on 'Live Tax Advice' at the upper right of your page to connect with an expert to see their recommendations.  You could open up your 2023 and 2024 returns, go to your Asset Summary, and Edit your trailer asset to see what your depreciation should have been for those two years (you'll need to know that in any case if you do file Form 3115).  At the end of the interview for this asset, you should get a screen telling you current year depreciation amount.   If you don't see that in your 2023 or 2024 returns, it may be an incorrect entry that didn't calculate depreciation for those years.  Possibly indicating that it was a 'vacation home' and not used entirely for business could cause that, so check Asset and Property Profile entries.   If you want to try amending your returns, you'd edit your Rental Asset correctly and depreciation will be calculated automatically and adjust your Schedule C or Schedule E amounts for you for Form 1040X.    Here's more info on Depreciation for a Rental Trailer and All About Real Estate & Vacation Rentals.     @siebertclan             

You have to pay for the TurboTax account if you want to view/print the complete tax return before filing.   If you are filing as Married Filing Separately you are not eligible for the deduction.  If you are Single and your AGI is over $175,000 or Married Filing Jointly and your AGI is over $250,000 you are not eligible for the deduction.   If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

Did you already print or file your return? If your in the Online version, you will have to open and start a brand new return for your daughter. If you have TurboTax desktop/CD software, you can do up to 5 tax returns.

Generally, a $40k project that installs a completely new system is considered a Capital Improvement, not a routine "expense" (repair). Repairs (deductible as expenses) fix things to their previous state (e.g., replacing a $500 pressure switch). A new well is a "Betterment" or "Restoration" of a major building system, which the IRS requires you to capitalize.   You typically cannot separate the "pump" from the "well" to call it a repair, if it’s part of a brand-new system installation. The entire $40k (labor, pipes, pump, and materials) is bundled together as one asset.   The good news is that the OBBB Act of 2025 restored 100% Bonus Depreciation for 2026. A well is usually classified as a 15-year Land Improvement. Because its "useful life" is 20 years or less, it qualifies for Bonus Depreciation.  TurboTax (Premier or Home & Business versions) will walk you through this. When you enter the well under "Assets/Depreciation," it will ask for the category. Select "Land Improvements" or "Water System." The software should then ask if you want to take the "Special Depreciation Allowance" (Bonus Depreciation).   Note: If you are in a "passive loss" situation (where your expenses exceed your rental income), TurboTax will help track how much of that $40k deduction you can use now vs. carry forward to future years.   The Used Ford F-150 Since you bought this truck for the sole purpose of managing the property, you can definitely deduct costs, but there are specific rules for vehicles.  Because a Ford F-150 typically has a Gross Vehicle Weight Rating (GVWR) over 6,000 lbs, it is considered a "heavy vehicle."    Under 2026 rules, even used vehicles qualify for 100% Bonus Depreciation or Section 179 expensing, provided they are used more than 50% for business. You could potentially write off the entire purchase price in year one.   Registration & Maintenance: Since it's 100% for the property, you can deduct the registration fees, insurance, gas, and repairs.    Documentation is Key: The IRS is strict about "Listed Property" (vehicles). Even if you say it's 100% business use, you must keep a mileage log or record showing that no personal trips (like grocery shopping) were taken in it. If you can't prove 100% use, you can only deduct the percentage of costs related to the rental work          

You are right! It makes sense now, yes I backdated both 2024 and 2025, so the $7000 of 2025 is not yet deposit, but is considered as basis, so i guess any residue less than 7000 on Dec 31 2025 is considered tax free. 

It is automatic based on your age. It is not part of your Standard Deduction. The new Senior Deduction is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e. The 6,000/12,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b with any other sch 1-A amounts. Turbo Tax automatically includes it if you qualify. For Single the deduction starts to phase out at 75,000 and maxes out at 175,000 For Joint the deductions starts to phase out at 150,000 and maxes out at 250,000 If you are married you have to file a Joint return And your SSN must be VALID for employment. Do NOT check the box saying Not Valid under My Info. 
For Online version You can preview the 1040 or print the whole return https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160 What do you have on 1040 or 1040SR line 13b? See the 1040 ….    

MEDICAL EXPENSES The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2025—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.   To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses       2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)  

Health care insurance premiums, including dental and vision insurance premiums, and other medical expenses that you paid with out of pocket funds and were not reimbursed are an eligible medical expense that you can deduct using Schedule A for itemized deductions. However, only your total medical expenses that are greater than 7.5% of your Adjusted Gross Income (AGI) can be deducted. Your total itemized deductions reported on Form 1040 Schedule A must be greater than the standard deduction for your filing status to have any tax benefit. Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older To enter your medical expenses - Click on Federal Taxes (Personal using Home and Business) Click on Deductions and Credits Click on I'll choose what I work on (if shown) Scroll down to Medical On Medical Expenses, click the start or update button

When you use online TurboTax software you get one return per fee.   Each return needs its own email, account and user ID.   If you use the same account and user ID for a second return, the second one overwrites the first return and it is lost forever.     https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-start-another-return-in-turbotax-online/00/25596 https://turbotax.intuit.com/personal-taxes/online/file-your-own-taxes/

If your total income from Rental Real Estate and other passive entities is zero, your NYS non-resident return should not report any income from these sources. TurboTax will transfer this information automatically when you begin your state income tax return.

Do NOT clear  your return!  Or it will be gone forever.   Sorry Online is only good for 1 return per account. And you need a different email address for each account. You can start another return in TurboTax Online by: Logging out if you are in your account Choose what TurboTax Online product you want to use for the second return https://turbotax.intuit.com/personal-taxes/compare/online Create your account screen Set up a new login for the second return Start working on the new return Or use the Desktop program. The Desktop program can do unlimited returns and efile 5 for free. And you can use any Desktop version, they all have the same forms. So you could use a lower version than you might need in the Online version.

Your capital improvements should have been entered as separate assets for the tax year you made the improvements.  Those assets, as part of the rental property should also have been depreciated.  You do NOT just add them to your cost basis.  When you calculate the gain (assuming you have a gain) on the sale, you have to calculate depreciation recapture for all the depreciation taken, or eligible to be taken.  That means you have to include the depreciation you could have/should have taken on the capital improvements, even though you didn't deduct it as an expense in previous years.   There is a work around for this. You can file Form 3115, Application for Change in Accounting Method and take all the missed the depreciation on your current year return.  While you can file Form 3115 with TurboTax, it's not a simple form.  For more information see the following IRS website:   About Form 3115, Application for Change in Accounting Method    As for the land value, you should have added that when you initially set up the rental property.  If you did not allocate a portion of your cost basis to the land when you set it up, you will need to adjust your original cost basis and depreciation via the Form 3115.  The typical way to allocate costs and sales proceeds between the structure and the land by using the ratio of land to improvements on your property tax bill.  You then take that ratio and apply to the actual cost and do the same for the sales proceeds.  You would use the property tax information for 2001 for the cost allocation and the 2025 bill for the sales allocation.     You will report the 2025 rental income and expenses the same way you would in a full year rental.   If it was me, I would file an amended return for 2024 with Form 3115 and get everything set up correctly with the correct accumulated depreciation amounts.  Then I would file 2025.  That would require filing an extension for 2025.  You wouldn't want to file 2025 until you had confirmation that the IRS had accepted your changes on the amended return.