Missed Depreciation

Forum|Forum|3 years ago
April 14, 2023
3 replies
37 views

Started renting a house in 2021 but did not claim depreciation.
Can I use Form 3115 in 2022 to claim the missing depreciation?

ProSeries Basic

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

3115 is kind of a hassle, personally, I'd amend.

dkh

Level 15

Why not amend 2021 and do correct depreciation in 2022 ?

M

mhsmith53Author

Level 4

I know amending is an option. I'm just trying to figure out if filing Form 3115 is also an option.
I've been reading about the 2-year rule and not sure if can only file 3115 if missed 2 or more years or can use it for any missed depreciation (e.g. previous year only)

Just-Lisa-Now-

Answer

Intuit Community Champion

3115 is kind of a hassle, personally, I'd amend.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

BobKamman

Level 15

How much to depreciate, how many months in 2021? A California mansion or an Alabama trailer? Is the amount missed even four figures? Is the tax consequence that much? Is this the only mistake on the return? Sometimes "do no harm" means "let it go."

T

TaxGuyBill

Level 15

If 2022 has not been filed, no, Form 3115 does not apply.

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