Hello,
My turbotax online put my overseas property depreciation as 27.5 years. I have tried contacting the tax advisor but they were not able to solve the issue. I have tried everything under the sun, including the complete removal of the property and putting the entire information again. And yes, it is designated as a foreign property. All my other overseas property do not have depreciation issues.
I went ahead and input the same information in TurboTax Desktop version and I am able to get the correct depreciation of 30 years.
Please assist in matter. If I cannot fix the issue on TurboTax Online, is there a way for me to get reimbursed and then file with TurboTax Desktop?
. If I cannot fix the issue on TurboTax Online, is there a way for me to get reimbursed and then file with TurboTax Desktop?
A few other posts I've read here indicate you are not the only one with this issue with the online version. So far, I've not seen the first hint that the issue is being addressed, must less a proposed solution date. I would suggest you contact TTX support for a refund of the online fees, and you use the desktop version. The first thing you need to do though, is to download the .tax2020 file from last year, and place it in your documents/turbotax directory. You'll need it should you need to restart your desktop return from scratch.
Thank you. I did just that. I contacted TurboTax for a refund for the online version explaining my issue and my need to purchase the desktop version. They refused to refund me. I have contacted my credit card company in an attempt to get my money back.
@21mat5 wrote:Thank you. I did just that. I contacted TurboTax for a refund for the online version explaining my issue and my need to purchase the desktop version. They refused to refund me.
If they refused to refund you because their program doesn't work correctly, you REALLY should be using some other way to prepare your tax returns than TurboTax. Use another brand of software or go to a tax professional.