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March 20, 2020
Question

Why didn't turbo tax continue to include rental property depreciation? I have not had it more than 27.5 years,

  • March 20, 2020
  • 1 reply
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    1 reply

    RobertG
    March 20, 2020

    TurboTax should continue to depreciate your property.

     

    Try going back in and reviewing your depreciation entries.

     

    To do this in TurboTax

     

    Enter Rental Property into the search box

    Select Jump to rental property

    Say yes to Do you want to review your rental and royalty information

    Select Edit next to Assets/Depreciation

     

    Go through the screens to edit your depreciation information.

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    LGSAuthor
    March 20, 2020

    Turbo Tax Deluxe does not offer me a line for depreciation this year???  And with further review it doesn't look like Turbo Tax has prior year information.  I have used Turbo tax for years and never had a problem with prior information being brought forward.  (However, my personal information was brought forward)  In review, it doesn't look like prior year unallowed losses have been brought forward either.  How do I make sure my entire tax return has all of the carryovers.  Thanks!

    RobertG
    March 21, 2020

    TurboTax deluxe does not support Schedule E Supplemental Income and Loss, including rental property.

     

    For that you need Premier or Self Employed.

     

    To see the forms supported by each version of TurboTax go to the TurboTax website: Commonly Filed Tax Forms and Schedules

     

    To upgrade in TurboTax:

     

    Online editions - Click on Upgrade on the left side of the online program screen.

     

    Desktop software editions - Click on Upgrade TurboTax on the bottom right of the desktop program screen.

     

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