TurboTax does not transfer information that requires complex calculations, like depreciation.
TurboTax does not transfer information that requires complex calculations, like depreciation.
It most certainly does import precisely that information that requires complex calculations.
@nicolefallin I see you'[re using the online version of TurboTax. Requirements to import from last year's return that you prepared with TurboTax:
- You must log in using the exact same account that you used when you completed and filed your 2019 tax return.
- The .tax2019 file must be present in that account.
- The import process can only be done when you first start the return (before you enter anything from your keyboard).
Once you've started the return, the only way to import is to select the "clear and start over" option in the TOOLS menu on the left, and start your 2020 tax return over from scratch.
If you used the desktop version of TurboTax to complete your 2019 tax return, you can still import the prior year data into your online return. The program gives you the option to brownse to the .tax2019 file on your computer. Note that the .tax2019 file from last year "must" be on your computer. By default (unless you changed it last year) it will be in the Documents/TurboTax directory.