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Investors & landlords
Maybe I'm not following you. I've been using TurboTax since I purchased the house. I put it into service in 2003 as a home office, and added several improvements since then. I have an Asset Entry worksheet for every one of those improvements, and they all appear on the AMT Tax Depreciation Report (4562), EXCEPT for the house itself. The Current Depreciation amount that TurboTax calculated does not include the house itself. Now I need to enter the "Depreciation allowed or allowable on prior returns" (Line 10 on the Adjusted Basis of Home Sold Worksheet) and I can't find that total. I assumed it would've been carried over each year by TurboTax. Is that not the case?
‎June 1, 2019
11:08 AM