Investors & landlords


@Mike9241 wrote:

Amending returns will only correct depreciation errors that have occurred in the last three years. Errors that have occurred before that cannot be “caught up” on current or amended returns and will only be “caught up” when the asset is sold using a Form 3115 and Code 107


 

No, if a correct Accounting Method has already been set (by doing it correctly in the first and/or second year), Form 3115 does not apply.