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R
raheemief
February 16, 2025
Question

Should I add all the depreciations taken in prior years fr claimed previous years depreciations

  • February 16, 2025
  • 1 reply
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    1 reply

    B
    BrittanyS
    February 18, 2025

    TurboTax will transfer over any unused depreciation from previous years filed in TurboTax.  You should not have to enter the depreciation again. 

     

    If you didn't use TurboTax last year, you need to include the asset when entering the business information.  The information will go under Business Assets being depreciated. You will enter the amount of special or bonus depreciation and the cost and date the asset was put into service. TurboTax will use this information to calculate the remaining depreciation for the 2024 year and the remaining years. 

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