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Investors & landlords
You can not depreciate an asset before you started using it for business. So the asset start date cannot be prior to the business start date.
No matter which program you are using, or what asset you are entering, there will be a screen that asks you for prior depreciation or depreciation history. You will need to enter the asset into TurboTax and answer the questions on the screens that follow with care. In both the Rental section and Self Employment section of Turbotax, you will get a screen that asks you to Confirm your prior depreciation. The amount that is in the box is based on the questions that you answered before.
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‎February 29, 2020
2:20 PM
6,915 Views