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At this point, you will need to add this as a depreciable asset again and report all depreciation taken in past years. Here is how to report it.
At this point, you will need to add this as a depreciable asset again and report all depreciation taken in past years. Here is how to report it.
Did you not use TTX to prepare your 2019 return last year? If you did, ***AND*** you use the same exact account to prepare your 2020 tax return as you used to prepare your 2019 tax return, (assuming you used the online version) then all that data will be automatically imported for you.
Accuracy on depreciable assets is really not an option. It's a must.
I'm just curious as to why you don't have the depreciation history on your rental assets, because you very well may have it, and just don't realize it.
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