Something I realized TTX did was if you did not claim a depreciation one year, it will adjust the amount that you can depreciate in future years to account for the missed depreciation. Is that true?
For example, the depreciation amount for a rental property with a cost basis of $100,000 over 27.5 years would be $3636 per year. If this was rented the whole time and depreciation was taken from years 1-9 but not year 10, when you file your taxes for owning the property during year 11, should the depreciation amount increase to make up for the year it did not get depreciated correctly (year 10)? This was something I noticed with the turbo tax program after reentering the correct amount in the prior depreciation box.
