Question

Depreciation in Previous years on Rental Property

Forum|Forum|4 years ago
March 2, 2022
1 reply
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Short Version: Where do I go to find the dollar amount used to depreciate my rental property in previous years in turbo tax? I.e. is there a specific page or header that will tell me how much was used?

I've sold off an investment property and Turbox tax is asking how much I have depecriated the house by over the past years. I have no idea, but assume that Turbo Tax would have used the same amount that last year as in all previous years so I just need to find the total amount.

Thanks in advance for any help.

M

MayaD

Check "Amortization and Depreciation Report"

When reporting the sale of rental property, the total amount of prior depreciation can be determined by using the 4562 titled "Depreciation and Amortization Report" from the last tax year the property was classified as a rental.

Add together the amounts in the "prior year depreciation" column and the "current year depreciation" column to get to the total amount of depreciation taken on that specific asset.

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