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Investors & landlords
That is correct.
However, if you took less depreciation that you should have last year, you need to enter the amount of depreciation that you SHOULD have taken. So when it asks for "prior depreciation", you need to enter $159 (assuming it should have used the Half-Year convention; if it was required to use the Mid-Quarter Convention then you use that amount).
‎January 22, 2024
2:58 PM
732 Views