Question

Finding the correct depreciation amount

Forum|Forum|5 years ago
May 12, 2021
1 reply
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I am at this screen

Should I enter the amount that I have in my 2019 refund on SCHEDULE E section 18, or the one from Form 4562 Depreciation and Amortization Report

TurboTax PLUS Online

E

ErnieS0

Use the amount from the Depreciation and Amortization Report. If you used your home for a business purpose and claimed (or should have claimed depreciation) on the business use portion of the property, then include the accumulated deprecation for all years.

This will be on the Depreciation and Amortization report. If you are using a 2019 report, add Prior Depreciation (up until 2019) and Current Depreciation (the amount claimed in 2019) and enter the total in Depreciation Taken on This Home. Generally the AMT amount will be the same as regular depreciation.

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