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Investors & landlords
If you haven't taken any depreciation enter $0.0 in "Amount of Depreciation Taken in Prior Years". TurboTax will accelerate your remaining years of allowed depreciation. It started at 27.5 years, that leaves about 17.5 years left. Unless you hold the rental for a total of 27.5 years, this will not total eliminate the problem. Also keep in mind, if you were to amend a previous year tax return to include depreciation, it would not be correct to enter $0.0 for 2016.
‎June 6, 2019
2:33 AM