Will offline Turbotax versions sync with previous year online Turbotax and automatically do carryovers for stuff like rental property depreciation? Can the online version then import information from a offline version?

Forum|Forum|1 year ago
October 19, 2024
2 replies
48 views

The last time I filed my taxes using Turbotax online was 2020.
I skipped 2021 and 2022 (I over-paid irs but didn't file an actual return due to personal circumstances), and used Turbotax online again for 2023.

Since I didn't do 2021 and 2022 taxes yet, I couldn't calculate my depreciation expenses on my rental property for 2023 using Turbotax online.

If I purchase Turbotax offline for 2021 will there be a way for it to automatically carryover information from my 2021 online version, including depreciation of rental property? I would like to repeat this by getting the 2022 offline version as well.

Finally, will I be able to import data from 2022 offline TT into my 2023 online version so the depreciation schedule is calculated accurately?

I know I'll have to go through amendment process for 2023 now that extension deadline has passed.

Anonymous_

Level 15

No text available

VolvoGirl

Level 15

Yes you can transfer your 2020 online return into the 2021 Desktop program. If you can download the .tax2020 file from your online account.

Sign in to your TurboTax account.
From Tax Home, scroll down to Your tax returns & documents
Select the year for the return you want to download, then select Download .tax file in the right column.

Then start a new 2021 return and it should find the .tax2020 file. If it doesn't find it you can browse to where you downloaded it. Be sure to save the 2021 return when you are done as both the .tax2021 and pdf files.

Then after you do 2021 you can do 2022 and transfer from the .tax2021 file. Save it as a .tax2022 file.

It is too late to do 2023 online so you will have to buy the Desktop program for 2023 too. Then you will have the .tax2023 file. You can transfer the Desktop .tax2023 file into the 2024 Online program next year. Or if you like using the Desktop program you can stick with buying the Desktop program. It has more features than the Online web version. And you can always see or get a copy of your return like if you need to amend or open it in the future after Online has closed.

The CD/Download Desktop you buy and install the program on a full Windows or Mac computer (a desktop or laptop), which can do unlimited returns. And you can buy any version. All the Desktop programs have all the forms, you just get more help in the higher versions. And the Desktop program has many other features over the Online versions. Like seeing and entering into the actual forms. And it has a What-If worksheet to test in.