@ErnieS0 wrote:
You can fill out Form 3115 and not file any amended returns.....
@ErnieS0 Do you have a cite for this proposition?
I do not believe that using an incorrect cost basis would be considered an impermissible method of accounting for which Form 3115 could be used.
See Section 1.446-1(e)(2)(ii)(d), the relevant language of which states the use of Form 3115 is appropriate for a change in the treatment of an asset from nondepreciable to depreciable or vice versa and a change in the depreciation method, period of recovery, or convention of a depreciable asset.
@AmeliesUncle ?
