Have a problem with trying to export rental property assets from FAM to 1040. The FAM has all the properties separately set up by property description, which corresponds to the property description in the 1040 Schedule E. FAM is linked to Schedule E Worksheet
The exported assets do not import to the similar worksheets in the 1040 but set up new Schedule E worksheets with only the "Location" completed and the depreciation included in that worksheet. Nothing imports to the original Schedule E worksheets and I end up with two worksheets for the same property.
I have seen some earlier posts that state the ID needs to be the same. What is the ID? The property names (descriptions) are identical. Have tried changing the "Location" in FAM to the same address in the 1040. Still doesn't import correctly.
What am I missing?
Thanks
I've used FAM for decades. I've found that I've done the export/import BEFORE I set up the property in 1040, 1065, etc. I then use that Schedule E or 8825 versus trying to force FAM to match. It's kind of backwards but it's worked for me.
That would probably work, but the Schedule E worksheets are all carried forward from the prior year and that would mean making additional work to change the worksheets. Currently I have the properties in the return twice. What a pain
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