Depreciation Schedule

[OceansideAdvisors]

Financial planner here looking to help a client calculate what the sale of a rental may look like from a tax standpoint. He has been depreciating the property over the last 5 or so years. Given that he has been using turbo tax the last few years, could someone point me to where he may find the depreciation schedule that shows his basis in the property over time?

[Anonymous_ · Accepted solution]

The Depreciation and Amortization Report contains the original, depreciable, basis as it was entered into TurboTax as well as the current and accumulated depreciation figures.

If the client has been using a desktop (installed on a computer) version of TurboTax, the report can be found in the list of forms in Forms Mode. If the client was using an online version of TurboTax, the form will be found in the PDF that was saved on some sort of media (hopefully) by the client.