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Investors & landlords
@Carl Thanks for the detailed answer. Actually property was rented in the middle of the year in 2018. We reported rental income and calculated all the costs, including tax based on how many days in 2018 was rented and how much percent area was rented out of the whole house.
But we failed to put anything depreciation field. Now, I am wondering can we start taking depreciation in 2019 and mark 2018 depreciation (that we could take) as a loss. Or in order to take 2019 and future depreciations, we have to amend 2018?
Also, can I just populate the above field that asks for any depreciation that we did not take in previous years?
Thanks again for taking time to help
‎January 29, 2020
8:02 PM