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Level 4

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

or do I have to manually list all of my last year's asset depreciations?
6 Replies
Level 18

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions


@6544 wrote:
or do I have to manually list all of my last year's asset depreciations?

Yes, you do have to list all of the assets (enter them into the Business edition) since there is no method that will allow a transfer from the TurboTax personal income tax preparation products into TurboTax Business.

Level 4

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

Thank you for your response. This carry over is from a 2017 tubotax business CD to a 2018 turbotax business CD. Your answer mentioned no carryover from a turbotax personal tax return. This return concerns a 1065 partnership return.  Does your advice to manually record these previously listed assets still apply?

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Level 18

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

I apologize, but the first thread you started mentioned something about transferring from TurboTax Home & Business to TurboTax Business.

 

Regardless, carryovers should transfer from the 2017 Business program to the 2018 Business program without issue. In the event assets being depreciated did not carryover, you can try transferring again. If all else fails, you should try contacting Customer Support (link below) prior to entering the assets manually into the program.

 

https://ttlc.intuit.com/community/using-turbotax/help/what-is-the-turbotax-phone-number/00/25632

Level 20

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

If you used TurboTax Business 2017 to file the 2017 Partnership Return, then if using TurboTax Business 2018 to file a Partnership return you will have the option to import data from the 2017 Partnership return. If you elect to import that data, then the program will take care of all this stuff for you.

Note that the import option *MUST* be the *FIRST* thing you do when the program prompts you with that option. SO if you didn't import at the beginning, the only possible way to import now is to delete the .tax2018 file and start over.

 

Level 4

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

Thank you very much for your very informative response.

Level 4

How do I carry over 2017 depreciation deductions into 2018 turbotax business? both are desktop CD versions

Thank you for your outstanding, informative, and encouraging response.