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Returning Member

Asset Class

I am getting an error message on the Asset Worksheet regarding the asset code for my Residential Rental properties. The asset code I need is not in the drop down. I saw that this is a problem that occurred in a recent update. Does TurboTax have a timeframe on when the issue will be resolved?

4 Replies
Level 15

Asset Class

@jtaylor0217 wrote:

Does TurboTax have a timeframe on when the issue will be resolved?

The latest word is that they are shooting for the next update and updates are typically released on Thursdays (that would be 9/2/21).

Level 15

Asset Class

There should be a software update on Thursday, 09/02/2021, which may have a fix for this issue.

New Member

Asset Class

my asset is telling me the class is wrong. trying to get me to change the 5 year. this is the 3rd year to claim. never any problems before. it says  "cancel override or delete entry in the asset class to restore calculated value."..

Expert Alumni

Asset Class

Please clarify what type of asset you have to depreciate. Is this for your business? Rental property? Vehicle? Home office deduction? What version of TurboTax are you using? Did you import last year's return? Are you following the interview or using Forms?


We ask these questions so we can give you an answer this is specific to your situation.

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