Investors & landlords


@AmeliesUncle wrote:

If you want to correct the situation, you can 'catch up' on the missed depreciation by going to a tax professional that is familiar with Form 3115.

 


@dghilpert Read the quoted sentence by @AmeliesUncle carefully. If this involved a rather large expense, which I imagine it did, then you should seek professional tax guidance and/or preparation.

 

Filing Form 3115, as @AmeliesUncle suggested, would allow you to make a Section 481(a) adjustment in order to catch up with the foregone depreciation.