Yes, if the depreciation creates a net loss, you can carry that amount back to offset previous year's income and also carry any unused loss forward to deduct against future income. Section 179 losses, however, have limitations for recovery.
Passive loss carryovers also apply for rental expenses that exceed rental income. In a year with more income, there may be some benefit from expensing an asset that otherwise would be depreciated.
@Jim202010
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