Support Center

At the very top of the Depreciation Worksheet, there is an option that says If a rental asset, select parent property. By selecting the first (A), second (B), or third (C) property here, the current year depreciation will carry to the corresponding column on the Schedule E from which you linked.

When you are using a Part-Year worksheet, Form 4562 must be linked to the Part-Year worksheet instead of Schedule E.

To correct this problem

 

On the Part-Year worksheet, link from line 20 to add Form 4562 to this worksheet.

 

Go to the Depreciation worksheet on the toggle tree, and right-click the name of the worksheet.

 

Select Change Parent form. The cursor will turn to a hand.

 

Select the form on the toggle tree to which you would like the depreciation to be transferred (this would be the Form 4562 that you added, and which is linked to the Part-Year worksheet).

 

Repeat step 4 for each depreciation worksheet.

 

Delete the old copy of Form 4562.

 

The depreciation will now be carried correctly.

Note: If you are attempting to take a Section 179 deduction on an asset used in a rental property, see the IRS instructions for Form 4562. Section 179 property does NOT include property used mainly to furnish lodging or in connection with the furnishing of lodging. This excludes most rental property, so you cannot take a Section 179 deduction if the property is a rental property.