Investors & landlords

Amending can fix it.  Form 3115 does NOT apply.

 

Any chance your rental has had losses each year and the passive losses were not allowed (carried forward on Form 8582)?  In other words, if it had been done correctly, would it have changed your taxable income?

If it wouldn't have changed your taxable income, I would just forget about it and adjust/correct things on your 2024 return as if it had been done correctly (including adjusting the passive loss carryover).

 

If it would have changed things, technically, you should amend.  However, if the change was minor, it could be a consideration to just change things on the 2024 return, including changing the "prior depreciation" to what was ACTUALLY taken (the too-much amount).