Carl
Level 15

Investors & landlords

When you purchased the property does not matter. You could have purchased it 20 years ago. Depreciation does not start until you place the property "in service" as residential rental real estate.

So was 2021 the first year you actually rented the property out? If so, then amending prior year returns is not necessary, since you can not depreciate property that was not in service.

If you did rent the property in 2019-2020 and used TurboTax for those tax years to report the rental income/expenses, then chances are you may have taken the required depreciation and just don't realize it. The TTX program tends to set that stuff up for you in the background and doesn't bother you with the details "if the program works correctly" and the user enters all the data correctly.