Turbo Tax Home & Business is indicating $0 depreciation on rental property purchased in 2012. Have entered required land purchase and building costs and date of acquisition. Next window required entering previous depreciation amount taken which I entered, software went into calculation mode and came up with $0 depreciation. My understanding is the depreciation schedule for this type of asset is 27.5 years. Has tax law changed regarding this, or is there another reason the depreciation I have received in prior years is not showing up?
