NS2005
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Ok finally figured it out. Right click the Recovery period entry and override. No need to create another Form 3115.
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Correct, property is a foreign rental.Here is the post I initiated in 2021:https://ttlc.intuit.com/community/tax-credits-deductions/discussion/turbotax-automati...
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So here is the issue:Last year TT2021 automatically changed to 30 years (i have another post on this from last year). Someone there posted that middle of the ye...
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I think I found the answer:https://taxnews.ey.com/news/2020-2932-consolidated-appropriations-act-2021-applies-tcja-depreciation-provisions-to-all-residential-re...
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I think I did initially but then got the prompt that said an overseas property does not qualify for QBI so I went back and unchecked that option.I plan to initi...
Activity Feed for NS2005
- Posted Re: I completed Form 3115 for 2021 return to adjust depreciation. In TT 2022 it still imports incorrect depreciation and not the newly adjusted depreciation. on Investors & landlords. April 3, 2023 10:04 AM
- Posted Re: I completed Form 3115 for 2021 return to adjust depreciation. In TT 2022 it still imports incorrect depreciation and not the newly adjusted depreciation. on Investors & landlords. April 3, 2023 7:40 AM
- Posted Re: I completed Form 3115 for 2021 return to adjust depreciation. In TT 2022 it still imports incorrect depreciation and not the newly adjusted depreciation. on Investors & landlords. April 3, 2023 7:23 AM
- Posted I completed Form 3115 for 2021 return to adjust depreciation. In TT 2022 it still imports incorrect depreciation and not the newly adjusted depreciation. on Investors & landlords. April 3, 2023 6:29 AM
- Cheered Re: TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service pri... for DaveF1006. March 25, 2022 8:12 PM
- Posted Re: TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service pri... on Deductions & credits. March 25, 2022 8:09 PM
- Posted Re: TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service pri... on Deductions & credits. March 25, 2022 1:19 PM
- Posted Re: TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service pri... on Deductions & credits. March 23, 2022 11:41 AM
- Posted TurboTax automatically changed ADS from 40 years to 30 years on a rental put into service prior to 2017. on Deductions & credits. March 20, 2022 7:23 PM