Help with form 3885a (bonus depreciation) for California state return

[MIke Adler]

Hi BP community,

Invested in my first real estate syndicate last year. Received the K1 from the partner and completed the federal return easily. How can I accurately complete Form 3885A for my real estate syndicate investment when my tax preparation software, FreeTaxUSA, does not support it? Does anyone know if TurboTax supports this in their state return software? Additionally, are there any other forms I need to submit for this investment?

Also - FreeTaxUSA was a nightmare and I do not recommend using their software for returns that are slightly more complex. I received conflicting messages from many of their enrolled agents.

Thanks!

[Marc Howard]

Hey Mike, congrats on your first real estate syndicate investment! 🎉

So basically, it's a bummer that FreeTaxUSA doesn't support Form 3885A. In a nutshell, TurboTax does support it in their state return software. You can check their forms availability list here: https://turbotax.intuit.com/personal-taxes/online/forms-availability.jsp

As for other forms, it really depends on your specific situation. You got the K-1, but you might also need to check for other state-specific forms. Did you invest in a CA-based syndicate, or is it out-of-state?

LMK if you need more info, and good luck with your tax filing!