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SLOFO
New Member

No way to enter prior year's depreciation figure on 2023 Turbotax

The previous two years I was able to use the same depreciation values for rental properties by inserting the number. This year I have to treat the property as though I am depreciating it for the first time and do a 4562 calculation by entering the cost of the land and building and year acquired. 

 

Previous two year's returns were done using a CD inserted into a Dell Desktop and had no problems using the same values for depreciation, which is constant as I've had no new items to depreciate. For some reason last year's return wasn't saved and cannot import it to this year's return. This year I also am using a CD, however have downloaded the program to use. 

 

Any workarounds to this problem?

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1 Reply
JamesG1
Expert Alumni

No way to enter prior year's depreciation figure on 2023 Turbotax

Perhaps.

 

You may be using a TurboTax Desktop version.  Do you have a printed copy of last year's tax return?

 

If you have a printed Form 45t62 Depreciation and Amortization Report for 2022, the Prior Depreciation plus the Current Depreciation amounts would equal the Prior Depreciation amount in the 2023 tax return.

 

This Prior Depreciation amount would be entered at the screen Confirm your Prior Depreciation.

 

 

 

At the screen Your Property Assets, select Edit to the right of the asset.

Continue through several screens until you reach the screen Confirm your Prior Depreciation.

 

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