How do i move rentals to an s-corp?

[Audrey46]

how do i move rental information from an individual return to an s-corporation?

[abctax55 · Accepted solution]

As in *contribute* them to an S-corp?  I suggest rethinking that strategy (research "never, ever, no not ever put real estate in a Corporation).

Or is it a done deal and you want to move the asset details from the individual module to the S-Corp module? 

If it's the second one, yes - deprec can be exported/imported.  Look under the tools menu (I think..)

[abctax55]

@George4Tacks  - where's that snifty link for moving depreciation info between modules?

[IRonMaN]

Are you sure you really want to do that?

[George4Tacks]

If you have properly title the transfer of the property from the individual to the corporation, then go to it:

(a) https://accountants-community.intuit.com/articles/1857497-exporting-depreciation-data-to-a-file

(b) https://accountants-community.intuit.com/articles/1862398-fixed-asset-import-common-questions

If you have passive losses, then I think you might want to start another question, after you slap the client upside the head for doing such a stupid thing.