I've had a rental property for years and never claimed depreciation. This property was rented in 2022 and sold later in the year. So I will be filing a Sch. E for 2022.
I have completed form 3115 to change accounting methods with 2022 being the year of the change.
This results in a section 481(a) adjustment that is all the depreciation I did not claim in past years and I need to use this in one lump sum in the 2022 return.
I'm not exactly sure where this goes on my 2022 return.
I would think on Sch. E, line 19 as other expenses?
Is this the right way to do this?
Thanks
