Hi,
We missed claiming depreciation on our rental property from 2019 through 2024, except for one year (2021), which needs a small correction in the calculation.
We’re planning to file Form 3115 to correct this and have already filed for an extension for this year’s tax return. I’m using the desktop version of the software and trying to complete Form 3115.
Does anyone have guidance on which sections need to be filled out for this type of change? I’d really appreciate help, especially with the following sections. Thank you!
1. Part II, question 13 - I'm seeing mixed opinions of yes/no. Any thoughts here?
2. For 19a - Do we need to enter rental income for preceding years?
3. For 27 - No, as there is no prior change
4. For 28 - please help me understand 28.
Appreciate any guidance in filling this complex form. Thank you for your time!
