I did not file and claim depreciation for my property many years.Can we file now to recoup the depreciation loss

[Critter]

Did you ever claim depreciation at all ?   Did you ever file those returns ?   How many years do you need to catch up on ?

[TaxGuyBill]

Are you saying you did not file your tax returns at all claiming the rental income?  Or that you filed and claimed the rental income, but not depreciation?

[engord2]

Filed returns did not take depreciation low income tax payer Didn't need depreciation.  Now on year of sale of rental want to do a 3115. Can i?

[Critter]

WOW ... just because you didn't "need" it doesn't mean you don't enter it ... yes you will need to make the correction in the year of sale ... seek professional assistance with this return as the form 3115 is no joke.

[Opus 17 · Accepted solution]

If you were entitled to claim depreciation (such as on rental property or business assets) but did not, you can fix it by filing a form 3115 which is a depreciation correction form.  But it is very complicated and will probably require an accountant to get it right for you.