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New Member
posted Oct 15, 2023 8:31:57 PM

Depreciation and Amortization report

How do you create an D&A report in turbo tax?  I need to produce schedule e-2.  Please advise.  Thanks 

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3 Replies
Level 15
Oct 15, 2023 8:53:54 PM

The Depreciation and Amortization Report is generated by the program in response to entry of one or more depreciable assets.

Level 15
Oct 16, 2023 3:52:51 PM

With rental property reported on SCH E, the report is created each and every year. There are three of them for a single rental property. One of them prints in portrait format and is the one filed with your tax return in the very first year. In subsequent years it's only filed is there's any type of a change to your depreciable assets.

The other two print in landscape format. One is titled "Depreciation and Amortization Report" and is most likely the one you need. The other is titled "Alternative Minimum Tax (AMT) Depreciation". These two will be created by the program every year the property is classified as a rental, no matter what. To find/print them you need to save your tax return in PDF format. Then you can open the PDF file, file the report(s) you need and print those pages as desired.

 

Level 15
Oct 16, 2023 3:59:26 PM


@Carl wrote:

One of them prints in portrait format and is the one filed with your tax return in the very first year. In subsequent years it's only filed is there's any type of a change to your depreciable assets.


What you are describing is not a report generated by TurboTax, it is Form 4562 and it is filed under the following circumstances:

 

  • Depreciation for property placed in service during the current tax year.

  • A section 179 expense deduction (which may include a carryover from a previous year).

  • Depreciation on any vehicle or other listed property (regardless of when it was placed in service).

  • A deduction for any vehicle reported on a form other than Schedule C (Form 1040), Profit or Loss From Business.

  • Any depreciation on a corporate income tax return (other than Form 1120-S).

  • Amortization of costs that begins during the current tax year.