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Investors & landlords
Thanks for your response David. In my example the house was acquired 5/30/1994, cost $49,610 and land was $12,402. In my 2020 return, prior depreciation was 46,228, current depreciation is 1,804 for accumulated depreciation of 48,032. How much should be in the "Amount of depreciation taken in prior years" box? If I put in 46,228, I get a 2021 estimated expense of 0. If I put the every year amount of 1,804 I get 2021 estimated expense of 35,404. I am confused.
March 13, 2022
3:07 PM