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I deleted an asset under rental property sale Is there a way I can recover this deleted item? Does Turbotax have an "undo" function?

I had two entries for my rental property with the same placed in service date with differing appreciation for each one.  I deleted one, and my project refund went down $1000.  Is there a way I can get back the asset I deleted in Turbotax?
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I deleted an asset under rental property sale Is there a way I can recover this deleted item? Does Turbotax have an "undo" function?

Unfortunately, there is no undo function in the products.

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2 Replies

I deleted an asset under rental property sale Is there a way I can recover this deleted item? Does Turbotax have an "undo" function?

Unfortunately, there is no undo function in the products.

Carl
Level 15

I deleted an asset under rental property sale Is there a way I can recover this deleted item? Does Turbotax have an "undo" function?

You can either clear your return and start over from scratch, which will allow you to re-import all your data from the 2021 tax return.

Or if you have the 2021 return saved in PDF format, you can print out the two Form 4562's for that property that print and landscape format, All the information you need will be on those two forms. Just remember to add together the amounts in the "prior year's depr" column and "current year depr" column, to get the total depreciation already taken on that asset, for your 2022 tax return. Otherwise, your 2022 depreciation on the asset "will" be wrong.

 

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