Cynthiad66
Expert Alumni

State tax filing

TurboTax does not track depreciation on a year-by-year basis (i.e., the program does not generate a list of the depreciation deductions allowed for each tax year).

 

Rather, TurboTax generates a depreciation report which lists the cumulative depreciation (for all prior tax years) and the depreciation for the current year.

 

You should print/save Form 4562 from your tax return each year.  This list each property and depreciation information, for your own records.

 

@richlux

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