topic Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 return in Investors & landlords

Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 return

Jrieker1 — Sat, 13 Mar 2021 17:18:13 GMT

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

HelenC12 — Tue, 16 Mar 2021 14:51:00 GMT

Please see the following TurboTax FAQ: How do I fix my Rental Properties and Royalties (Sch E) to file my 2020 return?

On your rentals, depreciation (also called capitalization, cost recovery, or amortization) lets you deduct the "used up" portion of an asset's cost every year, until the asset no longer retains any value or has been sold, destroyed, or otherwise disposed of.

The concept of depreciation is based on the notion that business assets eventually wear out, get used up, or become obsolete.

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

kdf711 — Mon, 12 Apr 2021 01:05:53 GMT

This comment does not answer the question as to why depreciation did not transfer from my 2019 to my 2020 return. If there is a software issue please fix it now!

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

Carl — Mon, 12 Apr 2021 01:25:42 GMT

There has been issues with this. However, it should not affect your current year depreciation taken.

One thing you can do is to delete the asset and re-enter it anew using the original acquisition date, in service date, and cost basis. The program will then figure the prior year's depreciation already taken (so you get that depreciation history back) and this works just fine "PROVIDED" the percentage of business use did not change in any year since the asset was originally placed in service.

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

granny79 — Thu, 16 Mar 2023 20:19:44 GMT

nothing got transfered. completely left off tax return.

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

HeatherPLO — Thu, 16 Mar 2023 20:38:32 GMT

You are commenting on an older thread. Please post your question here and we will be able to assist you further.

@granny79

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

granny79 — Thu, 16 Mar 2023 22:24:55 GMT

I deleted the whole property that I just put in and re entered just like you said. Had a couple of issues but looked on my 2021 tax return and copied the info. Had to do it 3 times but I finally got it so turbo would accept and clear the condition.. Have no idea why it did not transfer over this year. Thanks so much.

Re: Depreciation on a rental property did not transfer from my 2019 turbo tax return to my 2020 r...

CarissaM — Sun, 19 Mar 2023 20:52:37 GMT

We are happy to hear you were able to get it completed.

Please let us know if we can further assist you. @granny79