Turbo tax Keep on asking me to fill the state prior depreciation (MA) on Schedule E for my rental property sold this year. Is the amount same as Federal prior depreciation on form 4562?
It depends. If you did not use bonus depreciation (not common) on your rental property then the depreciation for Massachusetts will be the same as it is for federal. In other words if you used only the 27.5 year depreciation recovery period for your rental property it will be the same figure.
The reason for the question is because not all property is allowed to use the same depreciation on MA as on the federal. For more information you can use the link below.
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