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N
ndoddea
Level 1
December 7, 2019
Solved

Can I correct prior depreciation error on current year that rental building sold

  • December 7, 2019
  • 1 reply
  • 14 views
Rental building never was depreciated and is selling.  I will have to recapture depreciation so can I correct the return to show the depreciation not taken sinece I will be recapturing it on the sale?
This topic has been closed for replies.
Best answer by TaxGuyBill

You need use Form 3115 (code "107") to 'catch up' on the depreciation that was never taken.

1 reply

T
TaxGuyBillAnswer
Level 15
December 7, 2019

You need use Form 3115 (code "107") to 'catch up' on the depreciation that was never taken.

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