@ZWu1 wrote:
However, for all prior years, he filed my returns with incorrect depreciation.
He just realized he needed to make the change now for 2023 tax year by: filing 1040X for 2023, along with form 3115 for all prior years before 2023.
My questions:
1. For the original 2023 1040, he didn't know he needed to and thus didn't file Form 3115. Now he said the New 1040, 1040X, and 3115 must be filed by 10/10/2024. Is this correct? I.e., does the 6-month extension of 3115 apply here, or it doesn't since he didn't file 3115 in April when he filed the original 1040?
First, he should make sure it qualifies for Form 3115. Merely "incorrect" depreciation doesn't necessarily mean it can be fixed with Form 3115. Was depreciation claimed at all? Or what happened that resulted in the incorrect depreciation?
In answer to your question, yes, Form 3115 does give a 'bonus' six month extension (although I'm unsure if it would be due October 10th or 15th (I would guess the 15th). See the bottom of page 43 of Revenue Procedure 2015-13.
https://www.irs.gov/pub/irs-drop/rp-15-13.pdf#page=43
