So I'm looking at form 4562 printed from last year versus form 45624 tax year 2022.
The totals from prior year 2021 show cost net of land 3855, depreciable basis 3855 prior depreciation 3683 current appreciation 172.
The current tax year 4562 shows cost of land 3855, depreciable basis 3855 prior depreciation 3466, current depreciation 0.
I have no idea if this is correct or not.
I can tell you that in last year's 2021 filing each item had a current appreciation value whereas this year's has 0 it feels like that's because it's been fully depreciated but I'm not sure what the 3466 number is trying to tell me.
Again assuming the life being 7 years.. this stuff should be fully depreciated..right? I just want to make sure things look right.... I don't want to draw any undue attention to myself!
The only other thing was there was a question that said words to the effect of in the 1st year did you take an extra depreciation and I answered that question no for each item.. not sure this has anything to do with any of this.
Thanks!
