I understand that I need to file or have a professional file form 3115 since depreciation has not been taken on a rental property. I am trying to decide if it is worth it.
The rental property was bought in Oct 2017 and rented continuously since that time. THe value of the house and improvements is 52,570. I think that means that we should have taken $1,911.64 in depreciation each year. Does filing the Form 3115 means that we will get back $1,911.64 for 2018-2022?
SIncerely,
Hope Stanton
