What is the difference between Prior Depreciation and Prior Year Depreciation?
Generally in the context of the program, the spelling. 🙂
In the context of the program the "prior depreciation" is the total of all depreciation taken on an asset, since the last date that asset was placed in service. "Prior Year Depreciation" is the amount of depreciation taken in/for the prior tax year. Do note that the two are used interchangeably, and regardless of which is used it's fairly safe to assume "the total of all depreciation taken since the asset was last placed in service". Otherwise, if someone want's the depreciation taken last year or in any other specific year, they will specify the year.
