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Does TurboTax keep track of actual depreciation (if different from the calculated value) of rental property?
I have a rental loss that I am not allowed to deduct in full because of the income limits. I wonder if I can reduce the depreciation-save it for the future years thus able to fully deduct the rental loss. It will mean I will have to keep track of the actual depreciation and come up with correct values for next year's tax calculations. If anyone have the experience with the software, please let me know if this will work without issues.
‎January 23, 2023
8:10 AM