I completed Form 3115 for 2021 return to adjust depreciation. In TT 2022 it still imports incorrect depreciation and not the newly adjusted depreciation.

[NS2005]

Does anyone know if i need to file Form 3115 every year? Or can i manually adjust in TT the depreciation value since Form 3115 already filed? 
Also is this a bug in the TT software? it did prompt me file a change of accounting method but should it not have detected the previous years value during import?

[Anonymous_]

Form 3115 is generally prepared entirely in Forms Mode in TurboTax.

You then need to make a manual adjustment in the program to show the correct amount of accumulated depreciation. 

Thereafter, TurboTax should transfer the correct amount from year to year. Regardless, you do not need to file Form 3115 every year after the 481(a) adjustment is made.

[NS2005]

So here is the issue:

Last year TT2021 automatically changed to 30 years (i have another post on this from last year). Someone there posted that middle of the year - TT2021 reverted to 40 years. It seems this reversion carried forward to TT2022 and now it looks like i am going to have to file another Form 3115.

I think this is a bug TT failed to take in account for filers who submitted returns prior to the mid year update. 

Anyway i will add the Form 3115 and see how TT2022 behaves going forward. Hopefully someone from Intuit paying attention to this thread and getting their boffins to test.

[Anonymous_]

Recovery periods of 30 and 40 years for rental real estate are applicable to the ADS.

Are you using that system for a reason (e.g., the property is located in a foreign country)?

[NS2005]

Correct, property is a foreign rental. 

Here is the post I initiated in 2021:

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/turbotax-automatically-changed-a...

[NS2005]

Ok finally figured it out. Right click the Recovery period entry and override. No need to create another Form 3115.