Rental Depreciation

Forum|Forum|2 years ago
March 24, 2024
4 replies
20 views

I have used turbotax premium for years to track my rental property. In 2022 I did some capital improvements and added those and they appear on the 4562 and other forms along with the original house cost basis and depreciations. For 2023 I started by uploading the prior year return, and it did pull in the capital improvements, but not the house cost basis, land, and prior depreciations. I sold the house January 2023 so trying to calculate the gain, depreciation recapture, etc. I could do this manually, but unsure why turbotax premier is not showing the house cost/depreciation. This is the main reason I have paid for the premier version all this time so that it would track as opposed to manual entry. Suggestions?

PatriciaV

Alumni - Intuit

Please clarify which version of TurboTax you are using - Online or Desktop? Windows or Mac? If Online, which browser(s) have you used to log into TurboTax?

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reliance2023Author

Level 2

TurboTax Premier - Desktop - Mac

PatriciaV

Alumni - Intuit

Have you tried importing your prior year return into a new current year return to see if the assets were transferred properly? Sometimes the transfer process can drop certain information, and the only way to retrieve it is to start a new return.

Your other option is to enter the basis and depreciation information manually when you report the sale.

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