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Rental Property Sale - Depreciation

In Turbotax Premier in the "Your Property Assets" section if a rental property is sold in 2022 do I need to update for 2022 tax year the Special Depreciation or Depreciation for any of the major improvements placed in service in previous years or leave the depreciation amounts as shown?

 

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1 Reply
RSUMan
Employee Tax Expert

Rental Property Sale - Depreciation

Improvements placed in service in prior years and the rental property itself should depreciate appropriately up to the date of sale; you should not have to make any adjustments.

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