Depreciation and amortization report for my 2025 taxes

[Sladrock]

First time Turbo Tax user trying input prior year depreciation and having issues with the Depreciation and amortization report for my 2025 taxes. Anyone else seeing issues.. I have the desktop version.

[AnnetteB6]

TurboTax may not automatically select the same depreciation method and schedule used by another tax preparer when you are starting to use TurboTax for items already being depreciated.  You need to enter the information to match the depreciation already being taken on the items.

You will need a previous year depreciation schedule or report that shows how each asset was set up for depreciation as well as the amount of depreciation that has already been taken.  Then, in TurboTax, when you are entering information in the Rental or Business Income and Expenses section you will Add Assets.  

When you are entering depreciation information into TurboTax, the program may somewhat restrict the choices you can make in order to guide you to entering something that is correct by the tax law.  Trying to enter the information to match prior depreciation information can be tricky.

Here is a guide for how to go about entering depreciation into TurboTax in order to duplicate the entries that have been made on previous returns to continue the same depreciation.

• Start from the Schedule C or Schedule E section of your return until you get to the Assets/Depreciation section.
• Proceed to the point where you are adding an asset on the page titled Describe This Asset.
• In order to enter the asset exactly as it has been reported in the past, choose the last option on the list, Intangibles, Other Property, then click Continue.
• On the next page titled, Tell Us a Little More, select Other asset type, then click Continue.
• Enter the detailed information about the asset:  description, cost, date purchased or acquired.  Click Continue.
• Move forward with additional details on the next screen, then click Continue.
• Select the appropriate Asset Class, then click Continue.
• Choose the MACRS Convention, then click Continue.
• Select the Depreciation Method, then click  Continue.
• Answer the question regarding Listed Property, then click Continue.  There may be some additional background questions as well, keep going.
• You will eventually come to a screen to confirm the Prior Depreciation, enter the data and click Continue.
• Finally, you will see an Asset Summary screen with the current year depreciation amount listed.  There is also a check-box here to Show Details.  This will open a full description for the asset so you can verify that it matches the previously reported information.  If it does not, you can choose to go Back and re-enter the data that needs to be changed.

[Sladrock]

AnnetteB6, thank you for the detailed explanation.  I have my prior year depreciation but entering it with the limited choices in Turbo tax has been challenging.  I will walk through your instructions below and see if it works.

Just a few examples I am trying to get right.

Example 1: Roof ($5600) put on 4/25/2019. My prior accountant had the per convention method as 20 HY 150DB with the Bonus checked with and X.  This is not an option in Turbo Tax and when trying to add this in it showing as 27 MM S/L and is not flowing through to my NY State return.

Example 2/3: Dishwasher ($900) from 3/15/2016 and an Electric Upgrade ($2300) from 4/20/2016.  My prior accountant had the per convention method as 5 HY 200DB with both section 179 and Bonus checked (Basically, I fully depreciated it).  However, Turbo tax Isn't allowing me to enter both section 179 and Bonus and show it fully depreciated.  Turbo tax is throwing an error saying I can can only have special depreciation at 50% as I was trying to put 100% under Bonus Depreciation because there is no option to enter them as 50% section 179 and 50% bonus.

Example 4/5: Steam Boiler ($4800) from 10/28/2015 and a Refrigerator ($460) from 9/29/15..  My prior accountant had the per convention method as 10 HY 200DB for the boiler and 5 HY 200DB and both have section 179 and Bonus checked (Basically, fully depreciating them).  However, Turbo tax isn't allowing me to enter both section 179 and Bonus and show it fully depreciated.  Turbo tax is throwing an error saying I can can only have special depreciation at 50% as I was trying to put 100% under Bonus Depreciation because there is no option to enter them as 50% section 179 and 50% bonus.

Lastly, I have a few assets from this year (2025) that I am taking section 179 on for the full amount.

Example 6: Carpet ($3331) from 10/23/2025. This appears correct in turbo tax but on the Depreciation and Amortization Report, the asset is showing $0 under the current deprecation column.  Is this because the full amount is listed under the Section 179 column.  Same with a gas stove ($799) from 11/08/2025.  Both are listed as 5 year 200DB/HY.  Additionally, these are not flowing through to my NY State tax return.  I am showing a loss across my properties an I am not sure if that is why but I don't like not seeing them on my NY State tax return.. Any reason this would be?

[PatriciaV]

To replicate the prior depreciation methods, you may need to choose an asset type of "Other," which requires a thorough understanding of depreciation. This is a complex and tedious process, and you should consider upgrading to TurboTax Experts. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing.

[Sladrock]

Patricia, thanks for your advice.

I chose other and followed all of the steps but the section 179 deduction is not available for Tax Years 2015 and 2016 in Turbo tax even after entering other and following the instructions.  Regardless, as I have fully written these assets off in prior years, I just entered them using the bonus depreciation box and it showing $0 depreciation left.  So, it doesn't match exactly to my federal asset report but the end result is the same.