I assume that your reference to "misc. income" means that the income was shown on your Form 1040's for 2014 and 2015 on line 21 - "Other income". I also assume that the equipment you are referring to was placed in service in 2014.
If those assumptions are correct then, yes, you need to amend the 2014 and 2015 income tax returns to show the income on Schedule C and to start the depreciation of the equipment in 2014.
Tom Young
