I HAVE DEPRECIATION FROM A FARM BUILDING COMING FORWARD NO FARM INCOME THIS YEAR CAN I DEDUCT THIS?

[JulieR · Accepted solution]

Yes. Your farm assets and their previously allowed depreciation totals stay in your TurboTax Farm Income and Expenses section until you edit the asset for disposal. Each year TurboTax will automatically take your allowed depreciation. You need to keep your depreciating assets in your Asset Summary until you dispose/sell them and recapture your depreciation (which is taxable income).