Vanessa A
Expert Alumni

Get your taxes done using TurboTax

Yes, it should be filed every year that you claim depreciation.  

 

At this point there is not a lot you can do or really need to do.  Amending your returns to include the form would not change anything IF the depreciation was still taken.  From here on out, just be sure that the form is filed with your return.  If the depreciation was not taken, you can go back and amend for those 3 years, but prior to that, there is nothing you can really do to "make it better"

 

Depreciation is not optional. Even if you do not take depreciation, the IRS assumes you took it when you sell the property.  Whether you took it or not, you will need to claim depreciation recapture when you sell based on what you COULD have taken not what you actually took. 

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