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kg4513xf
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TT is calculating my depreciation by property on the TT worksheet but not loading on Schedule E depreciation so my 1041 taxable income is overstated. Why?

In 2016 and 2017, TT did calculate the depreciation by property and load the values on Schedule E depreciation line.   2018 TT is calculating the depreciation by property on the TT worksheet but not loading on schedule E so the 1041 taxable income is overstated by the total depreciation amount.   The depreciation amount is being reported as a reconciling item on the K-1

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TT is calculating my depreciation by property on the TT worksheet but not loading on Schedule E depreciation so my 1041 taxable income is overstated. Why?

2018 TT is calculating the depreciation by property on the TT worksheet but not loading on schedule E..."

Depreciation typically follows the income generated by the asset. If you made a distribution of rental income, the depreciation deduction will flow to the K-1(s). 

You can change the default by entering Forms Mode and allocating the deduction to the estate or trust (see screenshot).

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1 Reply

TT is calculating my depreciation by property on the TT worksheet but not loading on Schedule E depreciation so my 1041 taxable income is overstated. Why?

2018 TT is calculating the depreciation by property on the TT worksheet but not loading on schedule E..."

Depreciation typically follows the income generated by the asset. If you made a distribution of rental income, the depreciation deduction will flow to the K-1(s). 

You can change the default by entering Forms Mode and allocating the deduction to the estate or trust (see screenshot).

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