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January 23, 2025
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Rental Property, Form 4562 - can TurboTax transfer assets from 1040 to 1041

  • January 23, 2025
  • 1 reply
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Can TurboTax pull in the Asset, Depreciation and Amortization records from a prior year 1040 (for Schedule E depreciation), into an Estate Return 1041? Or...do I have to enter them all separately from the prior year 4562 into the 1041? Many thanks....

Best answer by PatriciaV

You will need to enter the assets and accumulated depreciation from Form 4562 into the new entity. There is no transfer function in TurboTax. Plus, you will be using a different version of TurboTax for the Estate (TurboTax Business).

1 reply

PatriciaV
PatriciaVAnswer
Employee
January 23, 2025

You will need to enter the assets and accumulated depreciation from Form 4562 into the new entity. There is no transfer function in TurboTax. Plus, you will be using a different version of TurboTax for the Estate (TurboTax Business).

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