How do I view my depreciation history for past years in TurboTax -- initial basis and amount depreciated for each item in each year?

Forum|Forum|2 years ago
January 15, 2024
2 replies
0 views

I have used TT since 2011 and have been depreciating various assets over various schedules. I need to know the remaining undepreciated amount for each item but cannot reconstruct this information from past tax returns. Surely TT can create a depreciation history report for me, for example a table of assets by years?

TurboTax Online

JamesG1

The information that you request can be computed.

Form 4562 Depreciation and Amortization Report displays the Date in Service, Depreciable Basis, Prior Accumulated Depreciation and Current Depreciation.

The remaining basis for an asset would be computed as Depreciable Basis minus Prior Depreciation minus Current Depreciation.

You would have to review the Form 4562 Depreciation and Amortization Report for each of the prior years to see how the Prior Depreciation was accumulated through the years.

To view previous years tax returns including this the page, click on Documents in the upper left hand corner of the screen. Each years tax return would have to be downloaded separately.

If this response does not completely answer your question, please contact us again.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

mcj3Author

Thanks for the reply.

The example table you showed would work for me, but I can't find it. My final tax forms from 2014 include a Form 4562 Depreciation and Amortization Report that matches your example, but that report is missing from all subsequent years.

For 2015-2022 I have only the Form 4562 that is filed with the IRS, which shows only the total depreciation (line 17: MACRS depreciation for assets from prior years) and not a breakdown by asset. This is true both of the files I saved at the time and of the files I can now download from the Documents section of the TT website.

Any idea why the Form 4562 Depreciation and Amortization Report disappeared beginning in 2015, and how I can get this information?

Mike9241

both the iRS and Turbotax are supposed to purge tax files after 6 years so I'm surprised your 2015 was available. However, 2014 and earlier are permanently gone if you did not keep a copy.

that form that is shown is not a standard part of a tax return so the IRS would never have a copy. You would have had to save copies of the returns using the option "tax return and all calculation worksheets" if that option was even available.

Carl11_2

Employee

For the most current tax year already filed (2022 at this time) you have to elect to print or save *everything* to a PDF file.

If you elect to save/print only those forms required for filing, the two landscape 4562's may not be printed/saved. So elect to print/save *everything*.

mcj3Author

Thanks, this is helpful. Any suggestions on where to find the "print/save everything" option? When I follow the Documents link and choose 2022, all I see are the docs I uploaded myself (W2 etc.) and a button for "Download tax PDF". That tax PDF is where I hoped to find the landscape 4562 tables but they aren't there.

Carl11_2

Employee

If you used the online version of TTX to file your 2022 tax return, then all 4562's "should" already be in the final PDF for that year. You may want to download it again.