Question

Asset worksheets and life history pages could be better

Forum|Forum|6 years ago
February 4, 2020
2 replies
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Been using TTP over 10 years. Very disappointed it took that long to stumble over valuable rental property support that is too well hidden. First, while running the program, asset worksheets are available, that's good, but when you print (PDF or not) your return, you get a depreciation report instead (multiple assets), which is kind of a disconnect. Second, never noticed that line 15 Quickzoom takes me to a very well hidden Asset Life History page, which is invaluable for confirmation and future planning, but DOES NOT PRINT with the return. Third, inexplicably, we see cases where the latter shows depreciation that does match MACRS (27.5 year life => 3.636%/year), but one level up, for unknown reasons, the software chooses to use a different number. Eg. $1628/year at the lower level (life history), but $1646 actually in the worksheet => Schedule E, with NO explanation available.

Carl11_2

Employee

After you have completed the tax return in it's entirety and are ready to file, you have several printing choices. For those that elect to file by mail, you have the option to print forms requied for filing. Then you also have the option to print forms "for your records". Neither of those two will print everything. The final option is to print everything.... and when I say everything, I "mean" everything. Worksheets, calculation forms, the works.

I myself have 3 rentals and am self-employed. So I'm filing SCH E and SEC C.

When I print forms for filing or forms to keep for my records, I get less than 30 pages. But when I elect to print everything, I get over 160 pages and absolutely everything is there.

This includes the IRS Form 4562 of which you will have two of those forms for each rental property. They both print in landscape format. One is titled "Depreciation & Amortization Report" and the other is "Alternative Minimum Tax (AMT) Report".

Now when you print it first converts it to an Adobe ducment and displays that document on your screen using whatever PDF reader you have set as the defailt. From there you can find the specific pages you want and when you print from your Adobe reader you can elect what specific pages you want to print. That way, you don't have to waste a ream of paper just to get the few pages you want.

A

ajsAuthor

Like I wrote, the Asset Life History pages are not only hidden, they do not print out, even in "print everything" mode, which I use. So I never knew they existed, until I found them recently.

It COULD be that this is a user error on my part, somehow, but my takeaway as a long-time user including Schedule E stuff is that the printed depreciation reports are DIFFERENT FROM the online forms available, which is one surprise/disconnect, and that the ALH forms are very well hidden and do NOT print with "everything" (yes, in PDF mode).

Next time into TT I will see if it's possible to view an ALH form in forms mode and then print it -- directly. But even if so, I shouldn't have to do that -- there are many of them in our return -- in "print all" mode, it should be included.

Y

Y2K4JC

I am searching for an itemized list for Line 19 on Schedule E and it is nowhere to be found! UGH!!!

C

CarMarq

Thank You ajs for finding this and explaining it so well. I have been a loyal TT user for 21 years, with Rental property as well. I have spent many hours looking for the ALH forms to print and refer to in future years. I agree, it is really hidden and difficult to find. This is the only thread I found that even discussed the issue. TurboTax PLEASE fix this issue for future ease in completing tax filing. I love TT but it has it's issues.