@Carl
The last year he did the return was 2013, where he used $1289 for current depreciation for a total of (as of 2013) $3,922 since it was placed in service. The forms 4562 in 2010-2013 all showed the same thing: S/L, MM, 27
The depreciable basis is 51,582 for the improvement. The land value is 15,000.
In 2014, I entered $3,922 prior depreciation and the same info from the prior forms 4562 (S/L, MM, 27.5), then the program calculated $1949 current depreciation which is what I've used each year since. Including 2020, the total depreciation taken is $17,565 = 1949 * 7 + 3922.
What should I do now? The property was sold in April 2021, so when I file next year, should I enter the prior depreciation that SHOULD have been taken, $18,838, or the actual amount taken, $17,565??
Or should I file the form that requests the change in accounting method and catch up the depreciation not taken? Or do something else?
