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Level 1

Question

Cost Segregation study

Forum|Forum|2 years ago
March 13, 2024
2 replies
106 views

In 2023 I paid to performed a cost segregation analysis on a rental home. Do I need to purchase TurboTax software to allow me to complete the required forms? Example, 3115 from.

Level 15

@jroy991 wrote:

Do I need to purchase TurboTax software to allow me to complete the required forms?

TurboTax only supports Form 3115 in Forms Mode and Forms Mode is only supported by the desktop products. Regardless, the form is somewhat complex and you should seek guidance from a local tax professional.

See generally https://www.irs.gov/publications/p946#en_US_2023_publink1000107388

Level 15

Form 3115 is available in the desktop version. I have another post with the steps needed and pictures of the screens to help you.

Follow these instructions to switch from TurboTax CD/Download to TurboTax Online or to purchase, see Turbo Tax Desktop comparison

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Level 15

The 3115 link doesn't work. Further, if it's the post I believe it to be, there are no screenshots of how to prepare the actual Form 3115.

Level 15

When you say the form 3115 doesn't work what do you mean? Is it not loading at all or not allowing you to enter information into it?

Here's the link with the instructions for the 3115. You are correct, there are no pictures, but the information is pretty clear.

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