By design, the default value of the Last Depreciation Date field will be set to 1/1/1980 for newly created assets or for mid-life assets.
For new assets, even if the last depreciation date is 1/1/1980, the field will be update accordingly, depending on the Depreciation Start Date field and Depreciation Rule field, once users will run depreciation.
For mid-life assets, the Last Depreciation Date field needs to be updated by the users, either manually or via CSV import.
For detailed steps of importing mid-life assets by CSV, you can refer to article Creating-Mid Life Assets by Importing CSV records (ID 21804).
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