Get your taxes done using TurboTax

Your basis for depreciation generally doesn't change. A percentage is applied each year to calculate your current depreciation. ‌The amount that TurboTax is asking for is the amount that has been depreciated so far.‌ You wouldn't be able to get this amount by subtracting 2023 current depreciation from your prior depreciation.

‌If you started renting your second home during 2023, then on Form 4562 you will be able to get most of the information from Section B. You can get the date when it was placed in service, the basis for depreciation, and the prior year depreciation.  If this is the case then your prior depreciation would just be the amount it was depreciated in 2023.  

If you started depreciating the home before 2023, then you will need the worksheet on your return that has all of your depreciation asset details. Form 4562 just lists depreciation for the current year and doesn't have the item's details.

If you file with TurboTax you can access up to 7 years of your records. See the TurboTax help article below for more information on how to access your previous return.  

How do I view, download, or print a prior-year tax return?