How do I recreate last year's TurboTax file to import into next year's file?

[lbohen]

My HDD crashed. I lost several years of TurboTax unrecoverable files including capital equipment costs and in-service dates. How do I recreate last year's TurboTax file, including depreciation, to import into next year's file?

[PatriciaV]

Yes, you may be able to recreate your prior year tax return to transfer to the current tax year.

First, you will need a copy of your complete return from last year, including all worksheets and schedules. Second, you will need to install the TurboTax software from last year.

Then, work through the step-by-step interview from the beginning, using the information from your previous return. Be sure to save this return to your computer and in another format for safe-keeping.

Without a complete copy of your prior year return, it will be difficult to enter assets for depreciation and some carry-forward amounts. If you do not have a copy, you can request a transcript from the IRS if needed at http://www.irs.gov/Individuals/Get-Transcript.

[156church]

Since TurboTax stored my income tax files (forms & worksheets) on my hard drive and the hard drive crashed, and the backup was lost too, I don't have any digital files to refer to. I do have hardcopies of what I sent to IRS. Should the depreciation information be on a hardcopy form or worksheet (if I printed a worksheet out)?

[Irene2805]

The total depreciation will be included on the applicable schedule (C, E, etc,).  However the depreciation  on the individual assets will show on either the depreciation report, or the asset entry worksheets, if you printed them out.

@156church

[156church]

I have my 2012 Depreciation and Amortization Report that lists several depreciated assets (Date in Service, Cost, Business Use, Section 179, Depreciation Basis, Life, Method/Convention, Prior Depreciation and Current Depreciation.

When I enter those assets in my 2013 Depreciation and Amortization Worksheets for each asset, using the 2012 data, TurboTax 2013 calculates the Life, Method/Convention different than what was used in the 2012 asset worksheets.

For example my 2012 TurboTax worksheet shows the following for the building: Life 31.5 (years) - Method/Convention = SL/MM.

When I enter this building in my 2013 TurboTax Depreciation and Amortization Report it doesn't give me any choices and uses the following: Life 27.5 (years) - Method/Convention = SL/MM.

Where do I go to enter in my 2013 TurboTax to change the Life of the building from 27.5 years to 31.5 years?

[DianeW777]

It appears you are either entering a wrong date for the date placed in service or you have selected the wrong type of property. The 31.5 year recovery period was for nonresidential or commercial real property (buildings and structural components) was used only until May 13, 1993.

For the recovery period of 27.5 years, you are selecting residential rental as the type of asset.  Both use SLMM as the convention for calculating depreciation.  Once you make the correct selection for the type of property you will have the right life of the asset.