Where do I find how much depreciation I took on my rental property the previous year?

Sport1 — Sat, 06 Mar 2021 20:35:01 GMT

I need to find on my taxes from last year the amount I entered as depreciation for my rental property. Does anyone know what worksheet and line this is on?

Thank you

Re: Where do I find how much depreciation I took on my rental property the previous year?

Carl — Sat, 06 Mar 2021 20:57:45 GMT

Look at your 2019 tax return. There are two IRS FOrm 4562's in their for each property. One is titled "Amortization and Depreciation Report" and the other is "Alternative Minimum Tax Depreciation". They both print in landscape format. The first one will show you both the total amount of all depreciation taken for the entire time the property was a rental, and will also show your the amount of depreciation taken for the current year. Since this is your 2019 tax return I'm referring to, the "current depreciation" column will be showing your 2019 depreciation only.

If the 2020 program is asking you for the total amount of depreciation taken in prior years, then on your 2019 form 4562 you have to add together the amounts in the "prior years depreication" column, and the "current year depreciation" column, and enter that total in the 2020 program for the total amount of depreciation already taken in prior years.

Re: Where do I find how much depreciation I took on my rental property the previous year?

ColeenD3 — Sat, 06 Mar 2021 21:05:03 GMT

You can also find it on your depreciation worksheet.

topic Where do I find how much depreciation I took on my rental property the previous year? in Investors & landlords

Where do I find how much depreciation I took on my rental property the previous year?

Re: Where do I find how much depreciation I took on my rental property the previous year?

Re: Where do I find how much depreciation I took on my rental property the previous year?