turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Georgia Depreciation Adjustment Fields Blank

I am a Georgia resident with out-of-state rental income.  This will be the first year I am reporting on this recently inherited properties.   In the Georgia tax return window, the "Depreciation Adjustment Subtraction" and "Depreciation Adjustment Additions" fields are empty.  

 

1.  Does TurboTax automatically do these calculations?  

2.  If not, how do I figure this out?

 

Thanks.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

Georgia Depreciation Adjustment Fields Blank

Your Georgia income is based on your Federal Adjusted Gross Income Form 1040 Line 11.

 

Those entries have nothing to do with an out of state rental property.

 

Depreciation Adjustment SubtractionEnter depreciation differences between Georgia and federal in years 1981 through 1986.

 

Depreciation Adjustment Additions - You may need to add to your Georgia income when your federal depreciation is more than the allowed Georgia depreciation. This may happen during the first years of depreciation or when you take bonus depreciation. Add the difference when your federal depreciation expenses are larger than Georgia's

Georgia Depreciation Adjustment Fields Blank

So, if I understand this correctly, TurboTax does not automatically populate these fields, right?

 

 

 

 

Georgia Depreciation Adjustment Fields Blank

Adjustments may be needed by you if required ... if the program doesn't give you the option it is because it is not required.

 

Requirements :  

 

Depreciation Adjustment Subtraction - Enter depreciation differences between Georgia and federal in years 1981 through 1986.

 

Depreciation Adjustment Additions - You may need to add to your Georgia income when your federal depreciation is more than the allowed Georgia depreciation. This may happen during the first years of depreciation or when you take bonus depreciation. Add the difference when your federal depreciation expenses are larger than Georgia's

Georgia Depreciation Adjustment Fields Blank

so I am understanding that TurboTax will not automatically compute these numbers and populate the fields, right?

 

The program is giving me to empty fields, one for subtraction, and one for addition. How do I figure out if they need to be filled in and, if so, where do I find the pertinent information?

 

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question