1911952
You'll need to sign in or create an account to connect with an expert.
If you are referring to the 2019 depreciation not carrying over to 2020, please see this TurboTax Help page describing the workaround for this issue. Please see this TurboTax webpage.
Unfortunately I am aware of the not transferring over the problem I’m having is that when I input this information in. I get a different depreciation number then it should be based on my atomization schedule from previous filings. Building’s/ homes should be done over 27.5 years and be the same year after year but when I input the information they ask for. the system kicks back different numbers or that I have already take all the depreciation.
There are two screens to enter a date, which are very important, first the purchase date and next the date placed in service. It's easy to miss the second one because it's at the bottom of the screen. As long as you are selecting the correct property "Residential Rental" for the buildings and capital improvements the depreciation calculations will be correct.
See both screens below. Please update the issue if you have more questions.
I was aware of this though. Thank you for your answer unfortunately this did not fix the problem that I was having. Maybe it will for some people. What I did to fix was. Pay turbo tax and access the true forms not there program style to see what numbers they where inputting and found a solution.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
alvin4
New Member
melillojf65
New Member
iqayyum68
New Member
flin92
New Member
justine626
Level 1