@waiyin21 wrote:
....I actually didnt claim any depreciation for the past two years.
Since you did not claim any depreciation deductions for two consecutive tax years, you adopted an impermissible method of accounting, which can only be remediated by filing Form 3115 (and making a 481(a) adjustment).
See https://www.irs.gov/publications/p946#en_US_2022_publink1000107383
You may need to seek guidance from a tax professional, but it may be worth the time and expense depending upon the amount of tax liability you will incur from the unrecaptured Section 1250 gain (depreciation recapture).
