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Question

I purchased a rental property in 2017 but I did not claim the depreciation YET. Can I claim it beginning 2024 return? I don't mind forgoing previous years depreciation.

Forum|Forum|1 year ago
March 16, 2025
1 reply
0 views

I have seen a complex version of claiming previous years depreciation as expenses this year. I just want to start using the depreciation starting 2024

No you can't start claiming depreciation now without a change in accounting method. This is because the IRS considers an error for two years or more an adoption of an accounting method.

You also will want to make up those missed years, because when you sell the property, you will have to recapture the depreciation you should have taken.

You can calculate the difference in depreciation and prepare the proper form, 3115 in a Desktop version of TurboTax.