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Investors & landlords
Special "bonus" depreciation (SDA) and Section 179 deduction are only available in the first year you place an asset into service. After that, the asset is depreciated according to the regular depreciation applicable for that asset type.
If you are entering an existing asset for your business property, you will enter the original cost and the total accumulated depreciation taken as of the prior year, exclusive of special depreciation and Section 179. There may be follow-up questions where you can confirm and/or revise the SDA and Sec 179 taken in prior years. TurboTax uses your entries to calculate the depreciable balance for the asset (the amount subject to further depreciation).
in 2018 - 2022, Special Depreciation was 100%, so it's possible you have assets from those years with zero remaining basis.
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