We have been using a CPA but want to use TurboTax. How can I enter all of the information from our CPAs Depreciation Detail Listing to get the right amounts on Form 4562?

[003lynch]

The depreciation pertains to our farm operation.

[DDollar]

I suggest you use TurboTax Desktop to do this.  It has a "Forms" option that allows you to view forms and worksheets, as well as make and change entries directly on them.  You will have to enter all of your assets in to the program, and it will automatically calculate current and prior year depreciation.  You can then verify the TurboTax depreciation reports with your CPA's and make any adjustments as necessary in Forms mode.  For more information on TurboTax Desktop see:

TurboTax Desktop Products Comparison

[003lynch]

Thank you! When I click on the link you provided, I do not see an option for TurboTax Desktop. I used TurboTax for 25 years previously and they had the option for forms available right where you were doing your input. I have a MacBook Pro.

[DDollar]

I just opened the link, and I get the TurboTax Desktop screen where you can buy any of the 4 versions.  The Mac version has a Forms mode, although it may be called something different.  There are some subtle differences between the PC and Mac versions.   If this link doesn't work,  <a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/personal-taxes/cd-download/">https://turbotax.intuit.com/personal-taxes/... to TurboTax.com and click on  Products & Pricing and then CD/Download products.

[003lynch]

Thank you for your response David. I'm sorry I'm not picking up on your direction right away. I realize now that I am using the Online Self Employed version. What CD/Download version are you saying I should purchase? The CD/Download Home and Business Personal and Self Employed? And if I do purchase this, is it going to transfer everything I have worked at entering today over to the new version?

[003lynch]

Ok, I purchased the CD/Download version for Home and Business. Thank you for that advice! Do you know which form I should use to enter all 44 of our assets from the Depreciation Detail Listing that our CPA used?

[DDollar]

I would enter them in the step by step interview, and then make any adjustments necessary in the Asset Worksheet via Forms mode.

[003lynch]

Thank you! I'm not able to do that because I am deaf and I cannot talk on the phone:-( I will figure it out somehow. Have a great day!

[DDollar]

It's not an audio "interview" it's just the questions that the program asks on screen.  No audio needed.

[Raeka]

I have same issue. But I had entered a lot for a 2014 tax return. I did my taxes with my CPA but wanted to try out TurboTax because I knew he'd be retiring. So I have a rather long list already in that 2014 tax return. Is there a way to get that list into the new years return for this year 2020? It would be great if I didn't have to retype all of the entries. There are a lot of them.

Thank you in advance.

P.S. If there is not way since I never used TT for the company before to actually file, where do I go in the program to add items one at a time? Do I go to forms list or step by step? I did it before in 2015 but don't remember how I did it. :(

Thank you in advance!

I am using TurboTax Business (for corps, s-corps, etc)

[VolvoGirl]

Sorry no.  You can only transfer from the immediate prior year 2019.  Why are you trying to start with 2014 info?  You need 2019.  Do you have a 2019 return?  Don't know if you can transfer from a pdf into Turbo Tax Business.  I don't know the Business program but start a return and go though the questions to enter your info.  

[Raeka]

My CPA used a different software. I have only a PDF of list. Many items go back 40 yrs. to 1980s. (40 yr. depreciation) and have to remain in return. I have the 2014  TT CD still but wasn't sure if could be done. Why I started with 2014? To match my CPA's return for that year to see how things were handled so I'll know how to treat some of the issues I'll need to know for this return.