Carl
Level 15

Deductions & credits

What "EXACTLY" is the asset? Residential Rental Real Estate? usiness property or some kind of business asset? Farming property or some kind of farming equipment? It matters, as that determines how you do what you want to do.  When was the asset place in service? On your 2018 tax return, looking at the IRS Form 4562 for *that* *specific* *asset*, what is the total depreciation already taken? (remember, add together the amounts in the "prior depr" column and "current year depr" column to get the correct answer.)

Finally, are you completing a 1065 return? Or maybe an 1120 or 1120-S return?