topic Re: How to manually change Asset Entry Worksheet in Deductions & credits

How to manually change Asset Entry Worksheet

dazz13 — Wed, 11 Feb 2026 10:47:16 GMT

Due to a 1031 exchange a rental property has inherited the deprecation schedule of the relinquished property. The number of years depreciation remaining for the new property is therefore not 27.5 years. How do I change this? The Asset Entry Worksheet doesn't allow me to edit the number of years.

Re: How to manually change Asset Entry Worksheet

Anonymous_ — Fri, 20 Dec 2024 03:51:59 GMT

Re: How to manually change Asset Entry Worksheet

dazz13 — Sat, 12 Oct 2024 15:03:57 GMT

None of those threads help with my issue.

Re: How to manually change Asset Entry Worksheet

Anonymous_ — Fri, 20 Dec 2024 03:52:11 GMT

Re: How to manually change Asset Entry Worksheet

Anonymous_ — Fri, 20 Dec 2024 03:52:22 GMT

Re: How to manually change Asset Entry Worksheet

AmeliesUncle — Sat, 12 Oct 2024 16:10:47 GMT

You continue to depreciate the 'old' house (carryover Basis) using the original "placed in service" date of the 'old' house. That will 'finish' depreciating that part.

You then create a second asset to depreciate the 'extra' money paid for the new property, using the new property's placed in service date.

Re: How to manually change Asset Entry Worksheet

dazz13 — Sat, 12 Oct 2024 16:52:16 GMT

The only workaround I could think of is to work with the 27.5 years number and adjust the amount paid in previous years to twist TurboTax's arm to force it to produce the correct depreciation amount. This way, the details of the calculation are wrong but the end result is correct.

Re: How to manually change Asset Entry Worksheet

dazz13 — Sat, 12 Oct 2024 16:54:35 GMT

I like AmeliesUncle's answer: use the original placed in service date (it's weird to have a placed in service date for a property years before the property was purchased ... but, oh well).

Re: How to manually change Asset Entry Worksheet

Anonymous_ — Fri, 20 Dec 2024 03:52:35 GMT