No. If the taxpayer missed claiming depreciation on two or more tax returns, she had adopted an impermissible method of accounting. The taxpayer cannot file amended returns to claim the missed depreciation. She can file form 3115, Application for Change in Accounting Method, for the year of change and claim a negative Section 481(a) adjustment for the missed depreciation each year, even the closed years.
Client has residential rental and hasn't claimed any deprecation since 2010. Can she file amended returns for the open years to claim the missed depreciation?
Modified on: Thu, 23 Feb, 2017 at 8:02 AM
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