Yes, the sequence is correct for the 2023 and the 2024 tax return. If you amend both of those returns then there is no need for Form 3115.
- Yes, you can avoid Form 3115 all together by amending both 2023 and 2024. There would be no need for this form.
- When amending do not include Form 3115.
- Mail each amended return separately. Do not mail them together. The IRS has difficulty when two returns are mailed together and one can get lost. Simple is best.
Form 3115 is used only to avoid amending returns or when amending returns is not an option. It is not necessary when you still have an open time frame to amend returns. Reasons for the use of Form 3115:
- It is a great option for a year of sale when depreciation was missed or had excess depreciation in an earlier year.
- It's a great option when the amending time frame has expired and a depreciation adjustment is needed.
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