Question

How do I carry over depreciation of assets that were depreciable in prior years? Or how do I import assets from prior returns to claim depreciation for 2017?

Forum|Forum|7 years ago
June 4, 2019
1 reply
0 views

No text available

TurboTax Premier Online

If you used TurboTax in 2016, your business/rental assets would carry over into 2017, along with depreciation.

If not, you can enter your assets, their cost, % of business use and date of first using for business. TurboTax will calculate the 2017 depreciation amounts and a current basis for the asset.

The IRS considers the depreciation taken, whether it actually was claimed or not. If you have a Form 4797 Depreciation Schedule from the last time you claimed depreciation, you could use this information to enter your assets for 2017.

Here's more info:

https://ttlc.intuit.com/replies/3302228