Hello,
My understanding is form 4562 only includes depreciation for the current year. However, if the property was rented out for let's say last ten years or so, how do you figure out how much depreciation was taken over the last 10 years.
Further complicating, if only 25% of the property was rented out one year and maybe a few years 50% of the property was rented out and then again 25% of the property, in such scenario how can you determine depreciation taken on tax return each year?
Does Turbotax software track all the depreciations taken over a period of time and carry them forward, if it does, where can I find that information? If it doesn't for the given scenario where can I find this information?
Thank you in advance.
