It can handle 5 SCH E forms, with three rentals/royalties reported on each one, for a total of 15 rentals/royalties.
Oh, I'm speaking for the Home & Business version. I don't know for a fact that lower versions can handle the same amount.
All the Desktop versions would be the same. I found an old answer that has ways to enter more.
If TurboTax only allows 45 houses, I see 4 options:
(1) Make the election to “group” some houses into one asset. HOWEVER, that can be problematic when you sell the houses. I would not advise that option unless you consult with a tax professional about it.
(2) Fill out the last 5 houses manually on Schedule Es, and override Line 17 on the 1040 to reflect the ‘extra’ forms that you manually did. HOWEVER, overriding in TurboTax voids their guarantee, and you would NEED to make sure the other numbers on the form adjust appropriately from the override. <a rel="nofollow" target="_blank" href="http://www.irs.gov/pub/irs-pdf/f1040se.pdf">http://www.irs.gov/pub/irs-pdf/f1040se.pdf</a>
(3) Use professional software. HOWEVER, you need to be very familiar with how a tax return works. Professional software does not give you step-by-step questions. You need to know what to enter and where. <a rel="nofollow" target="_blank" href="https://accountants.intuit.com/tax/proseries/professional/ppr.jsp">https://accountants.intuit.com/tax/proseries/professional/ppr.jsp</a>
(4) Go to a tax professional. I suspect that is what you may have done in previous years. With 50 rental houses, I would suspect it is quite expensive to hire a professional.
As a side note, except for option #1, you will not be ableto e-file. The IRS has an e-file limit of 15 Schedule Es (3 houses per Schedule E). You would need to file by paper and mail it.
Here's a screen shot from the Windows Desktop Home & Business version. It lets you add up to 45 properties, which would be 15 Schedule E with 3 each.
No. Always been. You must have been confusing 15 with # of properties not forms or with the Online version. It's not 15 properties. It's 15 Schedule E forms x 3. Maybe the Online version is only 5 forms. I think online is different than Desktop.
Desktop CD/Download editions support up to 15 Schedule E's with 3 properties on each schedule for a total of 45 properties.
@flkinvestments - You viewed the same answer before. The answer remains the same. Why do you think TurboTax doesn't support 15 Schedule E's with 3 properties per schedule?
you worded that wrong. it's 5, not 15 SCH Es with 3 properties each. 🙂