Form 3115, schedule E for 2 properties

SB2013 · Aug 15, 2025 12:02:28 AM

Hi, I'm trying to fill in Form 3115 for unclaimed depreciation on 2 residential rental properties.Property 1 (placed in service in Nov, 2019) - No depreciation was claimed for tax years 2019, 2020, 2022 and 2023. In 2021 tax return, depreciation was incorrectly calculated using incorrect placed-in-service date & cost basis.Property 2 (placed in service in Aug, 2023) - Originally a personal residence, converted to rental use in Aug, 2023. Depreciation was not initiated after the property was placed in service as a rental. While filling form 3115, schedule E section, how can I answer question 3 & 4 (b) as the answers will be different for each property. Do I need two 3115 forms? Please share any guidance. Thanks! <DIV class=""> </DIV><DIV class=""> </DIV><img src="https://ttlc.intuit.com/community/image/serverpage/image-id/50881i62AB3BE007C3A016/image-size/large?v=v2&px=999" role="button" title="image.png" alt="image.png" />

Hi,

I'm trying to fill in Form 3115 for unclaimed depreciation on 2 residential rental properties.

Property 1 (placed in service in Nov, 2019) - No depreciation was claimed for tax years 2019, 2020, 2022 and 2023. In 2021 tax return, depreciation was incorrectly calculated using incorrect placed-in-service date & cost basis.

Property 2 (placed in service in Aug, 2023) - Originally a personal residence, converted to rental use in Aug, 2023. Depreciation was not initiated after the property was placed in service as a rental.

While filling form 3115, schedule E section, how can I answer question 3 & 4 (b) as the answers will be different for each property. Do I need two 3115 forms? Please share any guidance. Thanks!