You'll need to sign in or create an account to connect with an expert.
When you use the desktop version, we don't have a copy of your return. If your 2020 pdf shows all the depreciation worksheets, you have the information needed to do a tax return-just add new purchases. The worksheets will show every asset, date placed in service, basis, depreciation method and how long it is being depreciated.
If your 2020 does not show every asset, look backwards to 2019. Take a look at your Form 4562. Line 17 shows the total of all depreciation for items already in service. Line 18 is for items placed in service that year. You can look at each 4562 to determine when assets were placed in service and their time period.
Unfortunately, I only have the printed copies -- both TurboTax and pdf for years prior to 2022, the year that my computer hard drive crashed... so no actual TurboTax data before that. I happen to save 2020 pdf to a disc, but not the actual TurboTax data.
I have found programs that will change a pdf of a spreadsheet to an excel spreadsheet. I only would do that for the pdf from 2020 that contains my assets list, depreciation and amortization. I know that each TurboTax looks for prior year data. Would 2024 see that spreadsheet and be able to update information from it?.
Another more tedious solution is to open the proper form in TurboTax 2024 , and manually input the prior years' info. But at least I would have information to carry forward from now on. Thanks.
The program can upload a 1040 from last year but not all the assets you need. Typing it in manually will be your only solution. You can do it! You have the assets, dates of purchase, basis and know the amount you are expecting to see listed for current depreciation.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
s d l
Level 1
bradnasis
New Member
meade18
New Member
jabbajr101
New Member
bbmeister09
New Member