Question

Home Office schedule C asset entry type

Forum|Forum|4 years ago
October 14, 2021
1 reply
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The drop down box for asset entry type in Form 8829 asset entry worksheet is missing type M & N and the filing deadline is the 15th with no fix in sight. Should I just leave the asset type blank and do the depreciation schedule manually as Turbo Tax wont do the depreciation without an asset type M and M is missing kind of a catch 22.

TurboTax Home & Biz Windows

Employee

You might want to wait until tomorrow (Thursday) and see what happens.

The developers are working on a fix and updates are usually released on Thursdays.

the depreciable life and method for part of the home used for a home office is the same as nonresidential real estate

Employee

@Mike9241 wrote:

the depreciable life and method for part of the home used for a home office is the same as nonresidential real estate

Correct, but entering the proper figures in TurboTax makes a mess of Form 8829 and the worksheet.

The developers need to fix the issue or that part of the return has to be prepared manually.