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Investors & landlords
I understand that I should have file the depreciation from the beginning. Also understand that IRS would calculate depreciations even if I didn't file for depreciation when my property is sold. So my question is can I forfeit the depreciation of prior years and start new? I know I would be at a loss for not thaking the prior years of depreciation deduction. If yes, do what do I put for pior years of deduction amount?
‎April 11, 2024
10:27 AM