How do I calculate my rental property depreciation cost? Past few yrs my CPA has been using a std depreciation cost each yr. I'm filing taxes this yr on my own, need help

[gjaiswal]

Trying to figure out how to use the same depreciation cost for my rental property from prior yr and apply that to this yr

[Carl]

*YOU* don't figure depreciation. The program does that for you (and correctly I might add) based on the data you enter.

All assets, including the property itself is entered int he assets/depreciation section. You will need the IRS Form 4562's from your 2018 tax return. Both of these forms print is landscape format. One is titled "depreciation and amortization report" and the other is "Alternative Minimum Tax Depreciation". Most likely, you will only need the first one.

When the program asks you for (or ask you to confirm) prior year's depreciation already taken, to get the correct amount, look at the 2018 Form 4562 and add together the amounts in the "prior years depr" column and the "current year depr" column. That total will be the amount you enter in TurboTax 2019 for the prior year's depreciation already taken.

If the property was classified as a rental for the entire 2018 tax year and the 2019 tax year, then the 2019 depreciation should be within a few dollars of the 2018 depreciation taken, if it's not a spot on match.

[RBFC]

You seem to know your stuff....  Thx!  I have a slightly different problem.  I have a rental property that we purchased in 2016.  Our preparer used 179 for that year and last year we switched preparers.  New person DESTROYED us so this year I am doing my own.  How do I make the Depreciation amount match the prior years?  I have entered all the correct data but cannot enter the 179 Depr amt.  Any idea?  Thanks!

[Mike9241]

what kind of property did he take 179 depreciation on  

179 is only allowed on qualified real property
For purposes of this section, the term “qualified real property” means—
(1)any qualified improvement property described as follows:

any improvement made by the taxpayer to an interior portion of a building which is nonresidential real property if such improvement is placed in service after the date such building was first placed in service.

the following are not QIP:
(i)the enlargement of the building,
(ii)any elevator or escalator, or
(iii)the internal structural framework of the building.

(2)any of the following improvements to nonresidential real property placed in service after the date such property was first placed in service:
(A)Roofs.
(B)Heating, ventilation, and air-conditioning property.
(C)Fire protection and alarm systems.
(D)Security systems

[Critter-3]

Using the depreciation worksheet from your original preparer and the second preparer  (if new assets  were added) to enter the assets in the TT program.   If you don't have these GET them from the preparers you used in the past  and/or use the form 4562s to recreate them.   I HIGHLY recommend you seek either local professional assistance to get back on the right track  OR  upgrade to one of the LIVE online options for the help you need.