You have a major, and most likely a very costly tax reporting problem - at least you will when the IRS catches it - if you don't fix it first.
For starters, nothing in a SCH C business is depreciated over 27.5 years. Only residential rental real estate gets depreciated over 27.5 years and that's not reported on SCH C.
Commercial business real estate gets depreciated over 39 years - and th at includes a home office in your primary residence *only* if you are the listed and named owner of the property. (You can not depreciate property that you do no own.)
So your commercial real estate, as well as the percentage of your primary residence that is used by you in your SCH C business gets depreciated over 39 years. your photography equipment gets depreciated over 5 years.
Bottom line is, you have an absolute mess. You need to seek professional help yesterday, if not sooner to get this fixed. I myself find it infathomable that you actually had *TWO* so-called "tax professionals" report the same incorrect information to the IRS. Makes me wonder if you asked to see their credentials, and then did the homework on your own to actually confirm the validity of those credentials.
So when you find yet another tax professional to help you get this right, make sure you not only ask to see their credentials, but that you get on the Internet and confirm the validity of those credentials.
As a side note, Don't be surprised if your cost to the IRS to fix this is going to make the cost of yet another "tax professional" seem like a pittance in comparison. If it's high enough, you may want to consider obtaining legal representation to recover your losses that were caused by those flat out wrong tax returns the first two CPA's completed for you.
