One property was placed in service in 2017 and the other in 2014.
I wish I'd had known the issue earlier, I just started to learn more about depreciation for rental properties. What do you recommend? Should I seek another CPA to help me correct this or should I attempt to correct it myself in the 2020 taxes? In the latter, would I still have to file form 3115?
Finally, in TTX 2020 when entering the amount of prior depreciation taken on an asset its important to enter the "correct" amount here.
When you say "correct" do you mean the amount it should have been or the amount that was depreciated (although so far, we know it's not correct) ? Also, when looking at 2019 form 4562, I do not see a "prior or current years depreciation" column, am I missing something or is there a different title that I should be looking for?
