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How do I get current cost basis for rental real estate from TurboTax online (having filed 5 years tax returns)?

Forum|Forum|5 years ago
September 12, 2020
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Expected to find a depreciation calculation worksheet in the downloaded tax return PDF but it is not there. My Schedule E shows the current year Depreciaton amount on line 18, but I need cumulative over lifetime of being in service as a rental.

TurboTax Self Employed Online

Best answer by Critter-3

Save a PDF with ALL the WORKSHEETS to get the one you want ...

NOTE: When you open your return back up, do not make any changes in it if it's already been filed. If you later have to amend the return, it has to start off exactly as it was when it was originally filed.

Log in and at the Tax Home or in the section "Your Tax Returns & Documents" for 2019, look for a link "Add a State."
Click on "Add a State." (you don't really add one. That's just to open your return back up.)
After the return is open, click in the left menu column on TAX TOOLS, then PRINT CENTER.
Then choose "Print, save, view this year's return."
The next screen should offer some options: "Just my tax returns", or "include government worksheets (optional)", or "include government and TurboTax worksheets (optional.)"
See if one of those PDFs has what you need. The latter has the most pages.

NOTE: Remember all PDF tax documents and tax data files are very sensitive files, since they contain your personal ID info, financial data, and possibly bank account numbers, etc. Be sure to store them safely and securely to guard against computer theft, hacking, etc.

Critter-3Answer

Save a PDF with ALL the WORKSHEETS to get the one you want ...

NOTE: When you open your return back up, do not make any changes in it if it's already been filed. If you later have to amend the return, it has to start off exactly as it was when it was originally filed.

Log in and at the Tax Home or in the section "Your Tax Returns & Documents" for 2019, look for a link "Add a State."
Click on "Add a State." (you don't really add one. That's just to open your return back up.)
After the return is open, click in the left menu column on TAX TOOLS, then PRINT CENTER.
Then choose "Print, save, view this year's return."
The next screen should offer some options: "Just my tax returns", or "include government worksheets (optional)", or "include government and TurboTax worksheets (optional.)"
See if one of those PDFs has what you need. The latter has the most pages.

NOTE: Remember all PDF tax documents and tax data files are very sensitive files, since they contain your personal ID info, financial data, and possibly bank account numbers, etc. Be sure to store them safely and securely to guard against computer theft, hacking, etc.

Carl11_2

Employee

What you need to do is ave the entire return (EVERYTHING) as a PDF file. Do not elect to save/print "for your records" or "forms required for filing". You want to save/print *EVERYTHING*.

Once saved in PDF format, you can open the PDF file to get the specific document you need. It's IRS Form 4562. There are two 4562's for your rental property. One is titled "Depreciation and Amortization Report" and the other is "Alternative Minimum Tax Depreciation". Both will print in landscape format.

These forms are only filed with the IRS only if something changes, such as the sale, conversion or addition of an asset.

May I ask why you need this form? If you're reporting the sale of a rental property, you don't need the form. The program will do all the math *for you* if you report the sale in the SCH E section of the program.