You can include it in the cost basis for the structure. However, you must reduce the cost by depreciation that could have been claimed on it to arrive at your adjusted basis when you want to dispose of the asset.
You can amend your tax return going back three years to claim the missing deprecation for those years only. Your other option is to use Form 3115 Application for change in Accounting Method to deduct all of your back deprecation on your current year tax return. The 481(a) adjustment is in Part IV of the form. You will need the desktop version of TurboTax to complete form 3115.
About form 3115
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