I entered a similar asset in TurboTax H & B and was able to view an Asset Worksheet (piano) and a Depreciation Report but no IRS form 4562. The correct depreciation numbers did transfer to the IRS form Schedule C.
One choice is to amend previous year's tax returns but you can generally only go back three years.
IRS form 3115 Application for change in accounting method is the appropriate form to report depreciation not taken on previous years’ tax returns. The form can be found in TurboTax H &B but it cannot be e-filed.
In TurboTax H & B,
- Click on Search / magnifying glass in the upper right hand corner of the screen.
- Enter '3115'.
- Click on 'Jump to form 3115'
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