I see conflicting answers for this. @DaveF1006 says you would need to amend your previous ten tax returns (although How to amend (change or correct) a return you've already filed (intuit.com) says you can only go back three years) while @Hal_Al says you cannot amend to claim capitalization. Anyone know which is correct? I am in a similar situation with vacant land and I have just seen this option after filing this year. Bummed that Turbo Tax didn't prompt me after entering in my property tax total. (Used home and business desktop edition.)
