How to fix incorrect depreciation for rental asset on CA return?
For one of the assets at my rental house (carpets) which is in year 5 of its depreciation, TurboTax is showing the prior depreciation as zero and an incorrect (excessively large) 2024 depreciation deduction, which would exceed the depreciable basis when added to the correct prior depreciation. Neither number matches what's shown in the "Asset Life History" sheet which looks correct. Looking back at the 2023 return, I found that the same problem happened but I didn't catch it because it was correct in prior years, and I assumed TurboTax had copied over the prior depreciation correctly from the 2022 return. I have no idea where TurboTax is coming up with the incorrect depreciation deduction values; they have no relation to what's on the Asset Life History sheet. The software does not allow me to edit the prior depreciation value or the depreciation deduction in the Asset Entry spreadsheet. The depreciation information is correct on the federal return; the problem is only on the state return. This looks like a bug. How can I fix this?