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Get your taxes done using TurboTax
No, that would not be the reason.
In TurboTax, a running total of depreciation is shown on a depreciation scheduled listed as part of Form 4562, however the IRS version of Form 4562 only reports what is relevant for that particular tax year and only for residential real estate or assets placed in service that tax year.
If you have Form 4562 for tax year 2023, and the rentals were placed into service in 2020 and 2021, I would assume an asset was added to the rental activity in 2023, such as an appliance.
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March 16, 2025
6:29 AM