Carl
Level 15

Investors & landlords

I see nothing wrong here - unless you also "inherited" the prior depreciation.  Now that would be a problem that would require professional help. When you inherit property, your cost basis is the FMV of the property on the date of passing of the deceased person you inherited it from, and you don't inherit the depreciation taken by the deceased. Basically, all that prior depreciation just "goes away" from your perspective.

Then if you started depreciating it on a 70%/30% split between structure/land, you're fine. There is nothing to fix here.

More than likely and depending on when the deceased person originally purchased the property, they paid much less for the property than your cost basis was when inherited. So you would start 27.5 years depreciation all over again from day one on the date you actually took legal ownership of the property. What depreciation was taken and what the split was prior to your inherited ownership is irrelevant and just doesn't play into this at all.