I used Turbo Tax Premier for 2012, and I have just completed my tax forms for 2013 using Turbo Tax Deluxe. It imported the numbers from the previous tax return, the only number that changed was that I had it rented for 10 months in 2012, and for the whole year in 2013. This year my depreciation expense for the rental property increased by 60% over last year. It seems strange if two more months of depreciation makes that much of a difference. Is there a reasonable explanation for this?

  • Check and compare the worksheets. Doesn't sound right. – littleadv Jan 30 '14 at 22:21

You need to sift through the return to uncover the source of this discrepancy. You are correct, a rental put in service for 10 months with have 5/6 the depreciation of a full year. Something else is going on.

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  • I looked at the schedule E worksheet and it was computing based on the same home/land values, but one other factor is that the previous year was my first year renting it. Anyway, I'll have an accountant take a look at the forms and see if I can get more info on the reason. – NL - Apologize to Monica Feb 2 '14 at 2:48

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