Business & farm


@Tommyknocker wrote:

 

I have turbo tax records back to when began to use in 2006

 

prior depreciation 515

 

I am sure house was fully depreciated.  In this time frame.

with the house and land separated


 

 

The "prior depreciation" might indicate you might have used TurboTax before 2006 (in 2003). 

 

However, *IF* you did mistakenly depreciate the land for a very short time, it appears to be for an extremely short amount of time, and I wouldn't bother worrying about it.  It would be different if you had done it for many years, but that isn't the case for you.

 

Just correct add the land value in now, and make sure the "prior depreciation" for the building is the full amount of the building cost (total cost minus the land value).