How to Input Cost Segregation Studies into TurboTax

[Haley Stephens]

Hi fellow investors -

I recently conducted two cost segregation studies on my rental properties.  I am self-filing my taxes through TurboTax (extension in Texas due to ice storm) yet I can't seem to locate where or how I would apply the cost segregation numbers to maximize the tax advantages.  They keep referring me to Schedule C - is this correct?

Would value any insight into this topic.

Thank you so much!

Haley

[Cedric D'Hue]

Hi Haley, I am working on my 2021 taxes using TurboTax online and I also conducted a cost segregation study on my short-term rental property. I just received the following response from TurboTax regarding adding the study:

TurboTax online does not allow the capability to override any certain transactions, ie; depreciation. You will have to used TurboTax Desktop which had a "Forms" mode where you can override current depreciation.

I hope this helps, Cedric