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Investors & landlords
@aws316 wrote:
Looking at 2014's form 4562, the prior depr not including 2014 was $3,922.
but the total depreciation as of the end of 2013 should have been $5,706=(1876*3)+78
We've been using $1,949 since 2014
we don't have any of the returns that he did for us.
If the prior tax preparer did not do ALL of the tax returns starting from 2010, you can't necessarily rely on what it says for "prior depreciation".
Almost. It should be MINUS $78, not "plus", so it should be $5550.
I think I would change your "prior depreciation" to $5550 plus $1946 however many years.
Always keep ALL tax returns for the rest of your life, ESPECIALLY when you are still operating a business or rental.
May 8, 2021
10:45 AM