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How do I get TurboTax to transfer my Depreciation info from my previous Form 4562? Specifically, Line 17 regarding MACRS, which TurboTax calculated last year for me.
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How do I get TurboTax to transfer my Depreciation info from my previous Form 4562? Specifically, Line 17 regarding MACRS, which TurboTax calculated last year for me.
Check your Asset Entry to be sure it is correct.
Click this link for more info on Depreciation Not Calculating.
A residential rental property has a MACRS depreciation of 27.5 years.
This article give info on Depreciating Business Assets for other types of assets.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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How do I get TurboTax to transfer my Depreciation info from my previous Form 4562? Specifically, Line 17 regarding MACRS, which TurboTax calculated last year for me.
Check your Asset Entry to be sure it is correct.
Click this link for more info on Depreciation Not Calculating.
A residential rental property has a MACRS depreciation of 27.5 years.
This article give info on Depreciating Business Assets for other types of assets.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
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How do I get TurboTax to transfer my Depreciation info from my previous Form 4562? Specifically, Line 17 regarding MACRS, which TurboTax calculated last year for me.
Thanks for the reply! I was able to pull up the exact details of previous returns by pretending I needed to amend a return. Hopefully TurboTax will transfer information like that over automatically so I don't have to do that for the remaining 27.5 years of depreciation...