How to override FED AMT Depreciation and CA Depreciation of rental property asset

[ElaineTax]

Hello,

   I own two homes that for the past 20 years or so I have rented out for some time, some years I have lived there, some years I have used a % of a house for business office.

For 2022, one home was rented 100% of the time and another for 50% of the time. For the one that I rented 100% of the time, I go to enter asset depreciation and I manually modify the form but I can't modify AMT Fed Depreciation . I was indeed able to override (by going into forms mode) the non-AMT depreciation. Moreover, when I go to CA taxes (I file married jointtly FED + CA) I cannot override neither the non-AMT nor the AMT depreciation of the assetts.

Basically, if you're assett history is complicated and how do you manually input all the depreciation (FED + CA AMT and non AMT) ?

[Anonymous_]

I'll page @Mike9241 for the AMT quesion.

[ElaineTax]

Thank you, how about high level how to override all depreciations on rental properties? If I could manually override all the values that would be a great start.

[sviyer]

Any answer to this?

[MarilynG1]

If you entered the Cost of your Asset correctly, the depreciation on your return is correct.   If you change the asset cost, the depreciation will recalculate for this year, but you shouldn't do that for any assets you've been depreciating over the years, only for new assets.  You would need to file IRS Form 3115 to change your accounting method to recoup past depreciation not taken, and amend all affected year's returns. 

If you can give more details on why you would need to override depreciation amounts, we'll try to help.  You can't Efile with overrides in your return. 

Here's more info on Rental Property Depreciation. 

@sviyer 

[sviyer]

It seems like TurboTax cannot handle different depreciation percentages over years. So it calculates the wrong depreciation when this is done. 

You can read about it in this thread:

https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-incorrect-rental-d...

Because turbotax calculates the wrong values, I am forced to override. I need to fix the depreciation amount.