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

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

vucat75
Returning Member

Depreciation - Transfer of information

I assume the Depreciation taken on property data, from Sales of Rental Property'  must be manually entered and not automatically transferred. 

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.

3 Replies
BillM223
Expert Alumni

Depreciation - Transfer of information

TurboTax has published a page describing the work around for this issue. Please see this TurboTax webpage. 

 

[Edited 2/2/2021 3:39 pm CST updated the hypertext link]

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
vucat75
Returning Member

Depreciation - Transfer of information

This did not really answer my question. The Depreciation report has a Prior and Current column.  I assume you need to add these together and then insert them manually to the Depreciation Entry on the Sales of Business or Rental Property Page. 

BillM223
Expert Alumni

Depreciation - Transfer of information

My apologies. The previous answer was supposed to contain a link that would describe how to address this situation, i.e. how to enter the asset in 2020. I have edited the previous answer and the link is also here.

 

This link gives you a step by step on how to enter your asset in 2020.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies