What is included in sales info under asset sale expenditures from sale of rental property?

[Critter-3]

Yes it is the way it is done ... and a DIY program cannot explain all the details in the tax code or you would be completing a return for months ... that is why professionals are useful for more complicated returns like yours.  

And the program has only part of the information ... you must enter the sale price and cost of sale for each asset yourself ... the program cannot do it for you.  

[Critter-3]

You know I went and looked ... the program DOES explain things if you click on the blue letters ... it tells you exactly what you need to do ... FYI ... even the professional programs require the user to do the math before you can enter the amounts in the program ... remember if you are the preparer it is your responsibility to educate yourself in any way needed to complete a correct and accurate return. 

[catbill76]

What version? I am using the Premier version and it does NOT say anything about allocation. 

[catbill76]

Nor does my version say anything about land.

I could do without the suggestions that this is too complicated for me. I am not an idiot and I know many people who own rental property. This is not an uncommon situation.

To make these calculations only requires information that TurboTax already has. The whole point of TurboTax is supposed to be that it performs the calculations, not us.

[AmeliesUncle]

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@catbill76 wrote:

To make these calculations only requires information that TurboTax already has. The whole point of TurboTax is supposed to be that it performs the calculations, not us.

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Yep.  Makes you wonder why you are using TurboTax, doesn't it?

As far as being complicated, some things can get complicated because the program is severely lacking and does not do many things (and has errors in other things).  Because you would need to manually do certain calculations, it is often best to go to a tax professional in those situations.

[Critter-3]

@catbill76 

You need to upgrade for one on one help ... this forum is not the right way to get help for a subject you are struggling with. 

[catbill76]

The only reason I have been struggling is because TurboTax gives so little help on what it is looking for. You accuse me of being ignorant and dumb when I have shown you  that your version gives more information than mine. How in the world am I supposed to know about allocation when the Turbotax I am using does not mention it?

My questions are not particularly complicated and once I saw the fuller example you finally provided, some of this makes more sense. I was hoping for friendly help here, not continual assertions that it must be too difficult for me.

That said, you are trying to help and I appreciate that. Just keep in mind that we may be working with different assumptions, information, and versions.

[Critter-3]

I posted from the same version that you are using ... either you are in the wrong place in the program or you are not continuing thru to the correct place and I cannot help you any further in this forum ... you need assistance in some manner  ... for free you can talk to TT support or for a fee you can get professional guidance your choice ...

Contact Customer Service
5am-5pm Pacific Time Monday -Friday
https://support.turbotax.intuit.com/contact/

[catbill76]

Sorry to hear that you think I did something wrong. You know nothing about my situation or how I ended up at that location. You cannot possibly know whether or not I am in the right place.

In any event, that location exists. It provides no information about allocation. It is immaterial how I arrived at it. 

[Critter-3]

When I worked as a tax expert for TT  I could have taken you by the hand and showed you exactly where you need to be and what you need to do in a few minutes  ... but in this forum I cannot assist you any further.  PLEASE seek assistance in some other way so you can stop this frustration.  

[catbill76]

 

AmeliesUncle

 

Level 10

Yes, it does make me wonder if TurboTax is worth it. I appreciate your understanding.

[catbill76]

Yes, it does make me wonder if TurboTax is worth it. I appreciate your understanding.