Hi, @DianeW777 , thanks a bunch for your comprehensive response.
In 2021, a certified accountant had filed my taxes and had shared the note, "Because it is a roof replacement and not a repair it will need to be capitalized and expensed via depreciation over the 27.5 years instead of being expensed all in 2021. Because the payment was made late in the year in December only $8 is deductible for 2021. The rest will be deducted around $107.89 for the next 27.5 years. " So, based on this, I am all set for 2021. As mentioned in my earlier message, I had missed including these expenses when filing taxes for 2022 and 2023.
I am confused why I need to complete the Form 3115, which is "Application for Change in Accounting Method for automatic and non-automatic change requests." Please explain.
If I do need to complete the form 3115, please share, how I can initiate this form within ongoing TurboTax filing. Thanks again!
