Special Depreciation Allowance (2025)

The Special Depreciation Allowance that I took in 2018 is not showing up on my form 4562 of my 2019 return. Turbotax is calculating the Special Depreciation Allowance as if this is a new asset and therefore not deducting the depreciation that was deducted in 2018. Whether I select new or used for the asset nothing changes.

How do I get my 2018 Special Depreciation Allowance imported to my 2019 return.

‎February 1, 202010:47 AM

@penrosetwrote:

Do I need to upgrade to the next level Turbo Tax to get it recognize?

You should probably upgrade to at least Premier if you are using the online version of Deluxe.

Also, you need to check both boxes to qualify for real estate professional status (see screenshot).

@dmichael58wrote:

The Special Depreciation Allowance that I took in 2018 is not showing up on my form 4562 of my 2019 return.

I am not sure what is happening with your tax file, but the special depreciation allowance is not supposed to show up on Form 4562 the following year.

However, you should see the asset, whether it is a rental or business asset, and the special depreciation deduction that was taken the previous tax year (see screenshots).

Further, the allowance should appear on the Depreciation and Amortization Report.

If you set up the house for depreciation, then it should be deducted over 27.5 years. Make sure you entered the house as "Rental Real Estate Property."

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@penrosetwrote:

Do I need to upgrade to the next level Turbo Tax to get it recognize?

You should probably upgrade to at least Premier if you are using the online version of Deluxe.

Also, you need to check both boxes to qualify for real estate professional status (see screenshot).

Hi, I'm having the same issue you had with your 2019 tax return, can you please tell me how you fix it?

Thank you,

AS

Are you saying that you took the Special Depreciation Allowance as a 100% deduction on an asset in 2019?

Ifthat is what you are saying, the Special Depreciation Allowance is not supposed to show up on Form 4562 the following year.

However, you should see the asset, whether it is a rental or business asset, and the Special Depreciation deduction that was taken the previous tax year. The allowance should also appear on theDepreciation and Amortization Report.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"