Get your taxes done using TurboTax

If you are operating a farm business do not just delete your schedule F. That would eliminate your farm completely. There is a proper way to close down a business and that is not the way. Your assets must be "Edited" to report how your assets where disposed of in order to close your farm business.

When entering an asset for the first time and the asset was purchased in a previous year TurboTax will ask for "Prior Depreciation" in case it was ever used in business previously. They are asking for the total of prior depreciation taken on that pickup in previous years. If you "placed it into service" of your farm business for the first time in 2015, you would have entered zero Prior Depreciation. 2015 would be the pickups first allowed depreciation. For 2016, the pickup is already an asset on your Depreciation Report so you do not enter it again. Now we just need to find out why TT is asking for a review of "Prior Depreciation".

When you entered your pickup as an asset in 2015, did you use actual expenses or take standard mileage deduction?

Have you reviewed your Car and Truck Expenses Worksheet?