Rental Property, Form 4562 - can TurboTax transfer assets from 1040 to 1041

[DAVE096]

Can TurboTax pull in the Asset, Depreciation and Amortization records from a prior year 1040 (for Schedule E depreciation), into an Estate Return 1041? Or...do I have to enter them all separately from the prior year 4562 into the 1041? Many thanks....

[PatriciaV · Accepted solution]

You will need to enter the assets and accumulated depreciation from Form 4562 into the new entity. There is no transfer function in TurboTax. Plus, you will be using a different version of TurboTax for the Estate (TurboTax Business).