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New Member
posted Jan 25, 2021 10:05:11 AM

Will the system carryover assets and depreciation from 2019?

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1 Best answer
Level 15
Jan 25, 2021 10:13:56 AM

"Will the system carryover assets and depreciation from 2019?"

 

Yes, but there appears to be an issue with transferring assets and depreciation from 2019 to 2020 in the online versions of TurboTax, which is currently under investigation.

2 Replies
Level 15
Jan 25, 2021 10:13:56 AM

"Will the system carryover assets and depreciation from 2019?"

 

Yes, but there appears to be an issue with transferring assets and depreciation from 2019 to 2020 in the online versions of TurboTax, which is currently under investigation.

Expert Alumni
Jan 25, 2021 10:14:34 AM

Yes. TurboTax will carry this information over as long as you are in the same TurboTax account.  Unless you sold, disposed of, or added additional assets, there is nothing more you will need to do.  TurboTax will automatically calculate everything for you for 2020.