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Investors & landlords
@kcampion wrote:
...I was allowed depreciation of 59,748 but actually took 41,060, how exactly do I rectify this?
File Form 3115 (it is a Section 481(a) adjustment), which is not a DIY endeavor; you should seek guidance from a local tax professional.
See https://www.irs.gov/instructions/i3115#idm140516453720416
https://taxexperts.naea.org/listing/service/individual-tax-preparation
‎November 21, 2022
8:18 AM