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Level 3
September 19, 2022

Bonus Depreciation

  • September 19, 2022
  • 2 replies
  • 11 views

Can I change from Bonus Depreciation to Regular MACRS Depreciation by filing an amended return for a 2021 tax return ? 

Is a form 3115 Required ? 

 

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    2 replies

    Level 15
    September 20, 2022

    Yes.  Just amend, no Form 3115 is required.

    rcipulloAuthor
    Level 3
    September 20, 2022

    TaxGuyBill,

    Thanks for your response, cant seem to find any IRS authority on this, do you kow of any. Current notices seem to apply to 2017, 18,19 and is confusing to say the least. Have you done this ?

     

     

     

     

    sjrcpa
    Level 15
    September 20, 2022

    I thought you need to elect out of bonus depreciation on a timely filed return.

    The more I know the more I don’t know.
    rcipulloAuthor
    Level 3
    September 20, 2022

    Can I elect out on a amended return and is that allowed ?

    sjrcpa
    Level 15
    September 20, 2022

    I don't think so. You could on a superseding return if that's an option.

    The more I know the more I don’t know.