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May 11, 2021
Question

If I sold my house in 2020, do I enter prior depreciation on schedule E line 12?

  • May 11, 2021
  • 2 replies
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And where do I get the prior depreciation?

2 replies

May 11, 2021

If you set up you rental property in TurboTax, the when you disposed of the asset (the rental house) the program would have the accumulated depreciation and it would flow to Schedule E.  Have you been using TurboTax, and reporting depreciation expense each year on Schedule E, page 1, line 18?

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May 11, 2021

actually, the accumulated depreciation does not flow to schedule E. only the current year does. the accumulated depreciation flows to form 4797 page 2 as does the sales information where the gain/loss is computed. the gain then flows to schedule D and the depreciation recapture (section 1250) flows to the depreciation recapture worksheet.