Difficulty Using Turbo Tax to Complete 2017 Taxes

[T-M]

A few months ago, I purchased Turbo Tax for Business 2017. Turbo Tax didn't include the depreciation and storage space rental that they included for 2016.  So I completed the 2017 taxes myself and mailed the completed forms to the IRS. Can I get some help to redo correctly my 2017 taxes and also the 2017 state taxes?

[VolvoGirl]

Are you using Turbo Tax Business to do a separate Business return or Turbo Tax Home & Business to fill out schedule C in your personal 1040 return?

i assume you mean your personal return.  

To amend a return you did somewhere else of by hand, you would first have to fill out Turbo Tax like you are doing the original return.  You have to recreate the actual wrong original return.  Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed.  Then you can amend it.

And 2017 should have the same forms, etc.  as 2016.  Did you ask for help back then?   Maybe you used a different version and it might have been in a different spot.

[T-M]

Somehow, I don't think you understood my requests.  The IRS sent me a letter saying they had not received my 2017 federal tax forms but I sent my completed 2017 forms to them by mail.  I did not complete my 2017 taxes until very late, just a few weeks ago.  I purchased Turbo Tax for home business on July 24, 2019.  I did not amend my 2017 return, although I may want to in the near future.  When I went to use Turbo Tax 2017 it left out 'depreciation' and 'storage space rental' that Turbo Tax importantly included on my 2016 return.  So I included the 2017 depreciation and storage space rental and completed the federal forms myself without the assistance of Turbo Tax.  Can I get help to correctly input the depreciation and storage space on the 2017 Turbo Tax federal forms?  I would also like to complete the 2017 state taxes using Turbo Tax.  I  did complete the 2017 state tax forms myself without the help of Turbo Tas but I would like to eFile the 2017 state taxes using Turbo Tax.  Can you help me?  Why does Turbo Tax not have telephone assistance or online assistance.  That would have made it much easier to have completed my 2017 taxes?

Thank you. 

[VolvoGirl]

Oh OK.  If you mailed 2017 recently they may not have them in the system yet.  So you still might need to amend 2017.  

Could you have transferred from the wrong file? See if you have another .tax2016 file on your computer. Or maybe last year you marked the Schedule C as FINAL in Turbo Tax? Or the Asset as Sold?

Here's an idea. Do you still have 2016 installed? Try opening 2016 program and see if you can get your 2016 return to show up in it. Go to FILE - OPEN. And see if your schedule C is in it and if it's marked as final.

You probably need to re add the Asset and the prior depreciation amount.   After you fill out the Federal info you need to go though the state tab.  Sorry you can not efile a prior year or efile a state unless federal was first efiled and accepted.  You will have to print and mail state.

[T-M]

Thank you for your last response.  If I follow the specific instructions you gave me, using the 2016 and 2017 Turbo Tax federal tax return information, I think I might be able to make progress in getting the forms corrected. If I run into anymore troubles, I'll send you another email.

Thank you very much.

[T-M]

I have my 2016 and 2017 tax forms in front of me.  I see a few discrepancies that if I can get corrected may help me move forward with the issues I have with the taxes.  I do have the software for 2017 Turbo Tax Home Business.  I cannot find the Turbo Tax software for my 2016 taxes.  I only have the Turbo Tax printout of the 2016 taxes on file.  I don't understand why the software is called 2017 Turbo Tax Home Business.  I work as a music therapist at nursing home and at two adult daycare centers.  I receive 1099 MISC forms for working at those locations.  I do use my home to do preparation and computer work required  to do my job.  So I don't understand what the home part of the Turbo Tax software is.

For 2016 through Turbo Tax, I placed for that year, $3,545 on 5-year property and $19,762 on 7-year property.  Turbo Tax deducted $3,531 for depreciation for that year.  I did my taxes 2015 my taxes through Turbo Tax but I did not take out any depreciation that year because I only had W-2 forms and had no 1099 MISC forms.  Turbo Tax did give me a 2016 printout of titled "Special Depreciation Allowance Elections under IRC Section 168(k)(7) and IRC Section 168(I)(3)(D), Election Out of Qualified Economic Stimulus Property" that confuses me and appears that it could be a problem for me. It states that the "Taxpayer hereby elects under IRC Section 168(k)(7) out of having Qualified Economic Stimulus property for the following asset classes placed in service during the tax year ending: 12/31/2016 for both 5 Year Property and 7 Year Property.  How did Turbo Tax come by this form and how has it helped or hurt my taxes?

Now in 2017, Turbo Tax Home Business did not deduct any depreciation carryover from 2016 and calculated that I owed $25 federal tax. I did have a major problem with Turbo Tax 2017, including a W-2 form which I did not receive in 2017 but I did receive one in 2016.  I had a problem trying to delete the W-2 form with no data on it on the 2017 software.  On my completed 2016 federal form, I received a $2,841. refund.

When I went ahead and completed my federal 2017 form without the 2017 Turbo Tax software, I included $5,974. as a second year deduction for 5 and 7 year property placed in service in 2016.  I mailed in my return two weeks ago and am expecting an $875.11 refund.

Can you help me get the depreciation issue straightened out in the 2017 Turbo Tax software.

Thank you.