Why is Rental Property Depreciation (for the Residential Building) not showing up on 2020 turbotax?

[DaveF1006]

it depends. Let me ask a couple of questions.

1. Are you using the Turbo Tax Software or the Online Version? 
2. Did you use the same version last year and this year?
3. If you used the online version last year, did you use the same login information? If not, then you are not using the same account.

[ggordon5]

1. Online version 

2.  Yes same version. For last ten years 

3.  Yes same login. All my past tax years are available for download. 
turbotax changed their design for the online version of 2020 and must of messed up carrying over depreciation from previous assets. This needs fixed. 

[Anonymous_]

@ggordon5 

The failure to transfer has been reported by a number of users and is currently under investigation.

[wwr1956]

1.  Online

2.  Same Version (this year as last year and a number of previous years)

3.  Yes

[richpatrie]

I called support. It's a known issue, but they provided no info. I asked for an ETA and they didn't have one. 

[ggordon5]

I got an email indicating this issue has been fixed. But when I logged on to my ongoing 2020 return for online version, nothing has changed and deprecation and assets from previous years has not changed. Does anyone know if turbotax online needs to be fully cleared and restarted for the "fix" to take effect. Sure would be nice if turbtax would provide this simple context, instead of just saying fix, with no other info

[richpatrie]

I have a case number but never got an email. I logged in and nothing has changed.

[ggordon5]

I have no clue if TurboTax is thinking this is a solution. But they have put out this [removed]. I might as well do my taxes manually if this is their solution to their incompetence. A better question has the transfer of previous years depreciation transferred correctly for anybody?

https://ttlc.intuit.com/community/asset-depreciation/help/how-do-i-fix-my-rental-properties-and-roya...

[richpatrie]

I just got off with Support. It's been addressed, but you need to blow it away and start over. They also emailed a manual fix by entering info manually from 2019.

I bit the bullet and started over. I entered info for the first rental and the math added up.  

I'm using the online version.

[patte108]

@Anonymous_ I am experiencing this problem now.  My 2021 depreciation for my rental has not transferred over.  I'm done with my taxes, looking it over and notice this problem.  It has transferred over every year since putting the rental into service in 2017 and used TT each year thereafter.  Any ideas on how to fix this besides entering every asset in again??? 

[Anonymous_]

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@patte108 wrote:

Any ideas on how to fix this besides entering every asset in again??? 

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You actually have few, or probably no, options if you cannot get the depreciation to transfer from your .tax2021 file. Of course, you can try transferring a few times before re-entering the assets.

[patte108]

By re-transferring does that mean I write over the return I've just done?  My return is pretty complicated (2 schedule e's -K-1 and rental, w-2, dep care, biz use of home, est. pmts, biz mileage...

[Anonymous_]

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@patte108 wrote:

By re-transferring does that mean I write over the return I've just done?  My return is pretty complicated (2 schedule e's -K-1 and rental, w-2, dep care, biz use of home, est. pmts, biz mileage...

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If that is the case, then you would probably be better off re-entering the assets in the depreciation section.

Re-transferring is going to eliminate everything you have entered manually into the program thus far.

[patte108]

Ugghhhh, really dissappointed.  Thanks for the quick answer, though! Really appreciate that.