Carl
Level 15

Investors & landlords

Prior year depreciation is not reflected anywhere on the SCH E or the 1040. Only the current year's "allowed" depreciation is shown on SCH E line 18. For prior year depreciation you have to look at the IRS Form 4562 which is *NOT* filed with your tax return unless there is a change to or the additional/removal of an asset.

Now there are three 4562's and they are not all the same. One prints in portrait format and is generated *only* if there is a change. The other two print in landscape format and are only printed when you elect the option to print/save *ALL" forms and worksheets. One of those two is titled "Amortization & Depreciation Report" and is the one you're most likely interested in. The other is titled "Alternative Minimum Tax Depreciation Report" and only comes into play for less than 5% of those reporting rental income. So you want the first one mentioned that prints in landscape format.