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I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

I can see from my 2019 returns on Schedule E line 18,  Depreciation expense or depletion, the amount for that tax year I presume, however i dont have all the returns I need back to 2013 , how can I get the toal ?
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I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

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I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

If you have used TurboTax every year since 2013 to report the property as a rental and you added the rental as an Asset in 2013, there will be a Depreciation and Amortization Report included in the PDF of your 2020 tax return which shows total depreciation taken.

 

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

 

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2020 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

Thanks,  I found that info on my 2019 returns as we stopped renting back then. So do I add the "Prior Depreciation" and "Current Depreciation" to get my taxable total ?

Thx again RObin

I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

Prior + current = total  taken

 

Look on the Sch E ... you should see the current on line 18. 

I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

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I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?


@robingadams wrote:

Thanks,  I found that info on my 2019 returns as we stopped renting back then. So do I add the "Prior Depreciation" and "Current Depreciation" to get my taxable total ?

Thx again RObin


Yes, add the Prior and the Current to get the total depreciation.

Carl
Level 15

I am selling rental property and need to find out what the total depreciation is I have claimed , how can I find that ?

I found that info on my 2019 returns as we stopped renting back then.

Just add together the total amounts in the Prior Depr columns and the Current Year Depr columns on the 2019 report, and that will give you the total amount of depreciation taken, that has to be recaptured in the year you sell it.

If the property was "in fact" converted back to personal use on the 2019 tax return, then you may find it simpler to report the sale on your 2020 tax return in the Sale of Business Property section.

do I add the "Prior Depreciation" and "Current Depreciation" to get my taxable total ?

Yes. But I wouldn't call it "my taxable total".  It's the total that has to be recaptured in the year of sale. Weather it's taxable or not depends on other factors. Recaptured depreciation is taxable anywhere from 0% if your AGI is low enough, up to a maximum of 25%.

 

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