Quote from your explanation of this topic:
"the total amount of prior depreciation can be determined manally by using the 4562 titled "Depreciation and Amortization Report" from the *last* tax year the property was classified as a rental. Simply add together the amounts in the "prior year depr" column and the "current year depr" column and that will give you the total amount of depreciation taken on that specific asset, up to and include the tax year that form 4562 is for."
In my case, the property was rental prior to 2019, in 2019, in 2020 , in 2021 and it is still a rental now in 2022. I did not and have no plan to convert it to personal use in the foreseeable future. In review the just completed 2021 tax return, I observed the following:
Form 4562 "Depreciation and Amortization Report" for Tax Year 2020
Prior Depreciation = 54167, Current Depreciation = 8766
Form 4562 "Depreciation and Amortization Report" for Tax Year 2021
Prior Depreciation = 61484
54167 + 8766 ≠ 61484
(I used TurboTax for both my 2020 and 2021 tax returns, and the Form 4562s for both years were generated by TurboTax)
I have another rental property which has the similar discrepancy in Form 4562s between 2020 and 2021.
Can you explain why such discrepancy?
