I sold my no-residental real estate 2024 at loss, and I noticed that at those years I have depreciation calculated wrong, How I can properly correct it now?

[thezhaofamily]

At 2005, I bought the property. In the Form 4562, the basis is the sale price only (not include any closing cost also not subtract the land cost). so the depreciation  I calculated is a bit off.

At 2012, I started to use Turbotax and I noticed I have entered wrong building cost 70K more, but also entered 4000 land cost. That calculation get me wrong depreciation. 2012-2023 I did the same way to calculate depreciation.

at 2024 I sold the property. Now I have to properly fix this problem, how should I do ?

[Mike9241]

You have to file Form 3115 to report the errors and corrections. The form and your reporting for 2024 are complicated. I recommend the use of a tax pro. 

[thezhaofamily]

thank you for your response. besides 3115 do I need to do anything else to correct the error?