somewhere in the easy step queries I filled in what I thought was a depreciation carryover from an investment real estate asset and later read that these carryovers where disallowed for real estate but I cannot change or remove on the forms. Where can I go back to the easy step and remove the carryover amount?
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To clarify, was this a Section 179 Deduction or Special/Bonus Depreciation?
Was this for the property (building) or an added asset (such as an appliance) ?
The amount of depreciation that I had deferred from a previous year for vacation rental property was disallowed (probably special depreciation) and I couldn’t find the way to remove it from the schedule E. I ended up deleting the form and re-entering the information.
It would have been an easy fix if the form worksheet that contained the incorrect amount referred back to the easy step question that gave me the prompt to enter deferred depreciation in the first place. Instead you have to go through every question from the beginning any time you want to change or delete an amount. Very frustrating
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