Our s corp had
leasehold improvements of $21,825 on space that we moved into on 10/1/14 (lease
ends 12/1/2021). Based on a 15yr term, we had depreciation on the
leasehold improvements of $182 in 2014 and $1455 in 2015 & 2016
($3092). It seems that we could or should have used a recovery period to
match the term of the lease (7 yrs). If I change our leasehold
improvement depreciation recovery period from 15yrs to 7yrs in TT (on the
4562- asset entry wks form) in 2017 tax yr do I need to amend prior yrs and/or
file a 3115 form or will TT in the future make the adjustment to depreciate the
remaining balance over the subsequent years remaining on the lease?
