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Investors & landlords
The tax expert did not answer the question. I have the same problem entering a prior year special depreciation. I am using a new computer, so I am entering all the assets I previously reported in prior years. I have one asset where I took the special depreciation in a prior year. Since I can't enter it, either I have to show no depreciation previously taken, or record it as a section 179 deduction. I end up with additional depreciation which I am not entitled to and my Form 4562 for 2024 does not show the Special Depreciation Allowance I took previously. It would appear that TurboTax did not provide the complete software for this issue and will need a patch allowing for inclusion of prior Special Depreciation Allowance along with the existing Section 179 Depreciation entry line.