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ggobbett
Returning Member

Prior year depreciation

Hi. I'm using Turbo Tax Premier Online for the first time, after using Turbo Tax desktop for years. For the CA return, I was asked to enter the prior year depreciation for a rental property asset. For the first asset, I think I may have entered the PY depr for all assets not realizing they were asking for a specific one. When I go in to Edit the asset, it says "No adjustments are necessary" and doesn't allow me to review my input. When reviewing the completed tax forms, a depreciation schedule isn't available. How can I review and modify the prior year depreciation if needed?

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4 Replies

Prior year depreciation

You may have to delete the asset and re-enter it in the Rentals section.

ggobbett
Returning Member

Prior year depreciation

Thank you. When I deleted it from the Federal return area, it did allow me to reenter the prior year depreciation on the stat return. So that worked. But now my rental income isn't showing up as an adjustment to income for the state return, whereas it was previously. I have federal loss carryovers, so there's no income reported on the federal return but it should be on the state return because there were no loss carryovers.

Prior year depreciation

You might have to contact Support. I don't know what is happening with your state return and can't see your inputs or return.

 

How do I contact TurboTax? (intuit.com)

ggobbett
Returning Member

Prior year depreciation

Thank you so much for your help and suggestions. I was able to speak to someone live at Turbo Tax. They had me delete my state return and when it was recreated the rental income showed up. Seems like it wasn't flowing through to the return after I deleted the rental asset. All fixed now. Thanks.

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