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Investors & landlords
Prior depreciation is cumulative over the life of the asset. If you have a TurboTax Depreciation Report from last year, total the two columns, Current and Prior, to determine the total accumulated depreciation.
As RobertB4444 advised, the calculated amount that TurboTax provides is usually accurate, especially for rental real estate depreciated using straight-line depreciation.
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March 20, 2025
7:31 AM