@Anonymous_ wrote: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.
@AmeliesUncle ?
I agree that using an incorrect Basis would not qualify for Form 3115 (it is a "mathematical or posting error").
However, in this specific circumstance it sounds like they were taking too much depreciation because they did not take out the value of the land. That could possibly be viewed as they were depreciating the building with the correct Basis AND depreciating the land with the correct Basis. *IF* that were to be the case, Form 3115 could be used because they were impermissibly depreciating land and Form 3115 would reverse the land depreciation.
