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When information is imported from a prior year return, all previous depreciation amounts and assets are automatically put into the current year return. You will need to verify and edit your depreciable assets if any have been sold or taken out of service.

The asset description, date placed in service, asset type, cost, method, life, convention, section 179, and prior depreciation (if it was entered last year) will import to the current year return. Basically, all information needed to compute depreciation for the current tax year will be imported.


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