tagteam said: This form may have been deleted by the program if the asset was converted to personal use in an earlier year or for some other reason and After the first year an asset is placed in service, you won't have a 4562 unless you have listed property.
The asset stayed as a rental 2014-2017 and I do see both Schedule E and forms 4562 (aka Depreciation and Amortization report for regular and AMT) in those years. So the asset was not converted to personal use during those years. However, see response to next point below.
AmeliesUncle said: "The worksheet says it was placed in service in 2012. But you are saying it was placed in service in 2014. Why the difference? Are you mistaken, and it was placed in service in 2012?"
I went back into my .tax2014 return and see that I answered "Purchase Date" as December 2010 and the "Available Date" as 8/3/2012. The dialog box in TurboTax 2014 says (said): "Also enter the date the rental property was ready and available to be rented out as well as the original purchase date". The property was prepped between 2010 and 2012. Should I have answered "Available Date" as the date it was really put into service as opposed to the date it was available to be put into service?
What was the property used for between December 2010 and whenever you placed it in service?
Nothing, it was being built/prepped.
Are you SURE you used TurboTax in 2012 and 2013, *AND* you transferred the prior year information to 2013 and 2014? If you did not do that, that is why the program is not showing the "prior depreciation". If you set up an asset that was already in service, if you don't enter the "prior depreciation", that won't carry forward because it didn't know what happened in 2012 and 2013.
Yes I used TurboTax in 2012 and 2013 (I found the disks, plus I have the .tax2012 .tax2013 files) and I've always transferred information over, so expect to have done this in 2013/14 as well.
Just to verify, the depreciable Basis is about $75,520, and that is AFTER subtracting the land, right?
Correct.
The Asset Life History information (2017 return, Asset worksheet, line 14 QuickZoom to Asset Life History - thanks to VolvoGirl) does show a depreciation table with non-zero prior year, going up each year. Given where things stand now, would it be reasonable to use the end-of-2017 depreciation information from this table and use that as the depreciation value? The property wasn't rented from 2018 onwards.
