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T-M
Level 1

Difficulty Completing 2017 Turbo Tax

 

I was very late in filing my 2017 taxes.  I received a letter from the IRS requesting my 2017 taxes by July 31st of this year.  I purchased the 2017 Home Business edition online in July.  I had problems completing the Federal Taxes using Turbo Tax.  It transferred information from my 2016 Turbo Tax return.  Turbo Tax 2017 brought up a W-2 form for me to complete although I did not have any W-2s in 2017.  I did have a W-2 form in 2016.  I did depreciation in 2016 for five and seven year property.  Turbo Tas included the amount of depreciation for the first year on my 2016 tax forms.  Turbo Tax did not include depreciation for the second year of the 5 and 7-year property in 2017 that was indicated on the 2016 return.  On the 2016 printout of all my taxes, Turbo Tax included an "Election Out of Qualified Economic Stimulus Property".form for five and seven year property.  Could this form be the reason Turbo Tax did not include the depreciation in 2017.  Can someone help me with these issues so I can properly complete my 2017 taxes with the Turbo Tax software?

 

Thank you.

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2 Replies
fridley
New Member

Difficulty Completing 2017 Turbo Tax

I believe any carry foward items like your depreciation will not carry forward if you do not have any income.  

also next time before 4/15 send in the extension form.

Difficulty Completing 2017 Turbo Tax

Contact TurboTax support and speak directly with a TurboTax support agent concerning this situation.

See this TurboTax support FAQ for a contact link and hours of operation -https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

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