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Investors & landlords
Yes, Form 3115 can 'catch up' on all of the prior year of missed depreciation. My prior comment indicates the timing of it (if you did not file an extension, you need to amend 2024 to remove depreciation).
As I said before, go to a good tax professional. As you are finding out, doing taxes yourself (with DIY software with TurboTax) has resulted in mistakes and may be costing you WAY more than any fees charged by a tax professional.
May 12, 2025
4:25 PM
7,501 Views