I'm not necessarily interested in amending a lot of previous returns to correct previous incorrect depreciation. I am interested, if possible, in depreciating the remaining value of these improvements over the next 5 years - thus "fixing" the basis to 15 years instead of 29 years.
Is there a process in Turbo Tax for S-Corps for "fixing" an incorrect depreciation schedule? First: I need to fix the depreciation for basis for my improvements from 29 years to whatever the correct term is or was when I incurred the expenses (in this case 2006).
Second: I need to know if I can simply backdate the "fix" back to 2006, then, without amending previous returns, just depreciate the remaining balance over what's left of the 15 years - thus increasing significantly my depreciation of the leasehold improvements over the next several years.
