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Level 1
posted Apr 2, 2025 9:59:09 AM

Turbotax input Totally Different Depreciation Amount into Tax Form than what it is displaying On Screen and on Supporting Worksheets

Total depreciation shown on "Your Property Assets" screen is $3244.  BUT, I just discovered that Turbotax software has entered $4098 as the depreciation entry onto schedule E instead of $3244 (accurate). I cannot decipher where this $4098 came from.  It doesn't match anything and when I go back through the interview, Turbotax shows the correct total depreciation on screen ($3244) but $4098 is still entered on the tax form and included in total expense... which is wrong!  When I click "search" from within this field the form (sched E), it only references the 2 Asset Worksheets that total $3244, so the values do not match.  Please HELP!  From where is this $4098 coming? How do I fix this? 

0 1 1900
1 Best answer
Level 1
Apr 2, 2025 10:48:15 AM

I found the "missing" amount. Although not referenced when selecting the "search" icon on the form, Turbotax is pulling in the total from Form 4562, not just the "Asset Wks" listed, which includes a Vehicle Depr worksheet that is not listed as part of the total.    

1 Replies
Level 1
Apr 2, 2025 10:48:15 AM

I found the "missing" amount. Although not referenced when selecting the "search" icon on the form, Turbotax is pulling in the total from Form 4562, not just the "Asset Wks" listed, which includes a Vehicle Depr worksheet that is not listed as part of the total.