Form 3115 Reporting depreciation rental property in another state - CPA local or remote?

[Mark_NC]

I failed to report depreciation.  I'm in NC.  Property in CA.  If I want help with 3115 should CPA be near me or best to be in the state the rental property is in?  Does it make a difference?

I should have caught this sooner I know.  I'm used Turbo Tax for rental properties.  I wasn't seeing the right screen and I thought TT was calculating it.  My mistake to not look more carefully.

[Anonymous_ · Accepted solution]

TurboTax only supports Form 3115 in Forms Mode, which is only available in the desktop products.

With respect to the location of a tax professional, it really does not make a significant difference provided that professional is familiar with CA tax law and procedures (local NC would be more convenient for you, of course).

You might want to consider an enrolled agent.

See https://taxexperts.naea.org/listing/service/individual-tax-preparation

Regardless, you should inquire as to the individual's, or firm's, experience with respect to preparing Form 3115.

[Mark_NC]

Thanks.  I'm only using desktop products.  Is there some other type?

I didn't mark this as best answer but I appreciate it.

When using Turbo Tax how do you enter rental depreciation?  Because I didn't see how to do it.

[Anonymous_]

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@Mark_NC wrote:

I'm only using desktop products.  Is there some other type?

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TurboTax also offers online products.

See https://turbotax.intuit.com/personal-taxes/online

[Anonymous_]

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@Mark_NC wrote:

When using Turbo Tax how do you enter rental depreciation?  Because I didn't see how to do it.

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Try the Rental Properties and Royalties section and look for the Assets/Depreciation subsection.

[PattiF]

You should find a CPA in North Carolina. They will be able to get you caught up on the rental property depreciation for the property in California. There is no need to find help in California for this problem. It would be much easier and more convenient to have a person close to you fix the error since they will need access to your papers and tax returns, and will be in the same time zone.

@Anonymous_ is correct to suggest an EA (Enrolled Agent with the IRS) as well as a CPA. Just make sure that they have experience preparing the form because not everyone has filed Form 3115.

@Mark_NC