dascpa
Level 12
07-15-2020
08:57 AM
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The terminology as written is "allowed or allowable" so my answer is no. You can amend the open years to claim the interest but you should not start from day one today. You should report accumulated depreciation as if fully taken. See a good explanation at https://www.irs.gov/faqs/sale-or-trade-of-business-depreciation-rentals/depreciation-recapture/depre...