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Investors & landlords
Hi Carl,
Thanks for your reply.
Could you please read my post today?
How do you explain the TT distribute my depreciation to 37 years?
I understand I couldn't do the amending now. But it's too late to find a CPA to help me file Form 3115 for this year. What should I do now?
1. File depreciation in 2019 tax return. Then put "Amount of Depreciation Taken in Prior Years: 0"
That will distribute the depreciation to the following 37 years.
or
2. Don't file depreciation in 2019 tax return.
File Form3115 to rectify this situation next year (2020 tax return).
‎July 6, 2020
2:18 PM