Missing: Tax line item for Schedule E Line 18 (Depreciation expense or depletion) Where is it?
Quick-Start
Quicken Windows Subscription Member ✭✭
All other line items in Schedule E are available for assignment to a Category/sub-category. Am I missing something? If it is really not there, can mere users create and use it? Are there work-around suggestions? Thanks in advance...
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Best Answer
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Quicken does not handle depreciation for tax purposes.
The depreciation is handled entirely within the tax prep software - e.g., TurboTax.
All of the depreciation details are stored within the tax data file and carry over from year to year.
QWin & QMac (Deluxe) Subscription
Quicken user since 19911
Answers
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Quicken does not handle depreciation for tax purposes.
The depreciation is handled entirely within the tax prep software - e.g., TurboTax.
All of the depreciation details are stored within the tax data file and carry over from year to year.
QWin & QMac (Deluxe) Subscription
Quicken user since 19911 -
ok - that's true - I went off on a tangent thinking that I should list it somewhere, and got too Quicken-focused. Thanks for restoring the bigger picture to me.0
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If you MUST have it, you can create a general liability account, create your own tags, etc. and mark that account down to itself or to a custom account. Though you'll have to do it all manually based on your tax forms, etc. If will also be calculated into net worth (unless you explicitly exclude that account from same). You could also do the same thing in the asset account for the property and just put in decreasing transactions. Only you can probably decide if you need enough visibility in Quicken to go through the work. GL!1
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