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Get your taxes done using TurboTax
When you look at last year's taxes you want the total depreciation used in total for all years before 2024 for each asset. If you imported last year's data, then TurboTax already has this information when you go through each asset in your vacation rental. Check Form 4562 and any depreciation worksheets in last year's return. The prior depreciation you show seems reasonable ($2,635) from your Form 4562.
Form 8582 does not show a depreciation amount, this form is calculating passive activity losses and does not separate out depreciation figures. Rather it is calculating the allowed and carryover losses of net rental loss on the property.
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March 5, 2025
7:43 AM