I need to create a new TT account and transfer schedule E from the old one (long story).
How do I do that so that I keep all the depreciation and net income/loss?
I did my best but it doesn't seem right.
I am using the online version.
OK....depends on whether you have already prepared and filed your 2022 taxes or not.
A) If you have not prepared and filed 2022 taxes yet......and you need the data for 2022 filing. Note that you cannot have entered data for 2022 already, you need to start with empty 2022 file (or Clear and start over).
1) You have to download your completed and filed .tax2021 datafile from your old account (NOT the PDF) to your computer.
2) Then, after logging into your new account, you follow the directions for your new account as-if you had used the CD/Download instructions for 2021 here:
B) If you have already prepared and filed your 2022 taxes, and that is what you need to get the Sched E data from? AND you are talking about transferring the 2022 data to your 2023 tax file for next year.....THEN, you have to wait until the start of the 2023 tax season....after the start of 2024 before you will be able to do anything. Then it would be done similarly. i.e.
1) You have to download your completed and filed .tax2022 datafile from your old account (NOT the PDF) to your computer. (You should do that now while you have your old 2022 account active...and pay attention to where you store it...or back up to a USB flash drive too).
2) Then in early 2024, after logging into your new account, you will follow the directions for your new account as-if you had used the CD/Download instructions for 2022 here:
Thanks for the answer!
I have not filed the 2022 taxes yet.
And I would be transferring the taxes from a joint tax account to a single. So the CD export, which looks like it makes a carbon copy of the account, might not be the best option.
And yes, I already started filing the 2022 taxes. It would help if you could tell me which fields from the Schedule E worksheet I need to use when setting up the rental property in the new account. I did my best, but the numbers don't line up, not even close.
You should likely re-start an entirely new question for your situation. Personally, I'm clueless about the details of what goes into the entries for a Schedule E. There are some others in this community that are much more expert in that situation.
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