Have not taken rental condo depreciation ever

Forum|Forum|4 years ago
September 5, 2021
1 reply
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I realize now I should have been taking rental condo depreciation and I never have.

The condo started being a rental in November 2015. I have filed for an extension for the 2020 taxes as I realized this.

Suggestions on what I have to do to fix it? I think I have to file form 3115 with 2020 taxes, application for change in accounting method. Can I do this with TurboTax? Do I have to file amendments for previous years?

Thanks for any help you can provide!

M

Mike9241

Suggestions on what I have to do to fix it? I think I have to file form 3115 with 2020 taxes, application for change in accounting method. Can I do this with TurboTax?

YES but I advise using a pro unless you clearly understand what must be done

Do I have to file amendments for previous years? NO