I have a single family home that I rent out. Any update on when Turbotax will have Depreciation and Amortization ready?

[leeosborn]

Any update on when Depreciation and Amortization will be ready?

[DianeW777]

The Form 4562 for depreciation is ready in all versions of TurboTax.  If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions:  (Don't forget to give us the state)

TurboTax Online:

Open your return -Go to the menu panel on the left side of your return and select Tax Tools. 

1. Then select Tools below Tax Tools.
2. A window will pop up which says Tools Center.  
3. On this screen, select Share my file with Agent.
4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.
5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.

TurboTax Desktop:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

1. Click on Online in the top left menu of TurboTax Desktop for Windows
2. Select 'Send Tax File to Agent'* > Follow the prompts to reach the token number.
   • Enter your email used for TurboTax > Enter your code > Send
3. Write down or send an image of your token number and state then place in this issue.
4. We can then review your exact scenario for a solution.
5. Please also tell us any states included in the return. This is necessary for us to view the return.
   • *If using a MAC, go to the menu at the top of the screen, select Help, then, 'Send Tax File to Agent')

We will be able to see exactly what you are seeing and we can determine what exactly is going on in your return to provide you with a resolution.

[leeosborn]

Token #1322719

State: Minnesota

I'm still getting this message when I try to get to the Depreciation/Amortization

[DianeW777]

With the many changes this year it may be the IRS is not quite ready to receive depreciation/amortization.  The IRS systems must also be ready to accept forms and changes which can lead to a delayed start for some forms and schedules. The necessary forms will be available as soon as possible.

Use this link Sign up for email notification which will let you know when the depreciation/amortization will be ready to file.

@leeosborn 

[dm55422]

I have the same issue...the change log says all is ready, yet my software says the section is not ready, and I'm from Minnesota.  Other tax software is looking a lot better, and I've been with TT 10 years

[sgkent]

in California. Am retired and use the above schedule for some supplemental income to my retirement - things I buy for it. Mine gives me the same error and when I looked it said completed sometime in February.  Been with TurboTax since their first year in business. This is my last year with them because of all the delays.  They raise their prices and lower their service. In fact if one looks at the responses to client questions, often the first answer is there is no problem, then someone says no, here is proof that we are all getting this page, and then suddenly it is, Oh yeah that is because yada yada yada. Always trying to push the fault off on someone else. They never say they did a lousy job this year, or that their management is overcharging and under delivering, but that is how we see it. Just finish the software and don't activate the final filing ability until it is fully ready to go. Put a blurb up that says that the numbers shown are estimates only until the final version is completed.  

[dm55422]

What are you going to use?  I’m thinking tax act

[leeosborn]

Dianne,

In your original message to me you stated that "The Form 4562 for depreciation is ready in all versions of TurboTax".

Then your most recent message seems to contradict that, unless you are saying that TurboTax DOES have the form ready, but the IRS isn't accepting this form yet.  Can you please clarify that detail for me?

Is it TurboTax that isn't quite ready, or is it the IRS?

Thanks!

[leeosborn]

Since I already paid for TurboTax this year, I'll finish 2025 taxes with them.  Prior to next year, I'll have to do some research to determine what I'll do. It is frustrating to have all my taxes done except for that portion. I just hope they get the form ready real soon! Thanks for your help though!

[Karis_F]

Form 4562 is ready in TurboTax and is being accepted by the IRS. We suggest that you update your TurboTax software.

For TurboTax Desktop, follow the steps here to manually update the software.

For TurboTax Online, you may need to clear your cache to receive the latest software update. See these instructions.

[leeosborn]

I'm using your online version, so it should be the most up to date version!

I cleared Cache and Browsing History, and the screen still says, "Depreciation and Amortization will be ready by February, but likely sooner". Please help again!

screenshot

[user17697914913]

I get the same message. Does anyone know when this will be available?

[dm55422]

Tried it..made no difference.  How can I get a refund of this now totally broken software?

[Cheomon]

Getting the exact same message that this will be ready in Feb but likely sooner. I'm in CA

[leeosborn]

I would like a refund if you can't get me an accurate answer on this issue.  Still waiting .......