@lesclos If you have depreciation that was not used in the past on your tax returns you can use it now by filing Form 3115 with your current tax return.
Form 3115 and Form 3115 Instructions
Form 3115, Change in Accounting Method, is used to correct most other depreciation errors, including the omission of depreciation. If you forget to take depreciation on an asset, the IRS treats this as the adoption of an incorrect method of accounting, which may only be corrected by filing Form 3115.
To make a change under Rev. Proc. 2011-14, the taxpayer must attach Form 3115 to a timely filed (including extensions) original return for the year of the change. In addition, the taxpayer must file a copy of Form 3115 with the IRS National Office no earlier than the first day of the year of change and no later than when Form 3115 is filed with the federal income tax return for the year of change.
This form allows you to recover the deduction which is important because the rule for depreciation is allowed or allowable. This means that when the property is later sold, the depreciation will be recaptured whether or not you actually used the deductions.
If you have already filed your 2020 return, you can file this and use it for 2021. It is a complicated form, but you are interested only in the change in your depreciation method and amount.
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