Depreciation taken on wrong property

[michele]

New client and a mess to straighten out.  They have several commercial properties that are rented out.

One property building and assets where put under another building. They are two separate buildings  located on different streets in the same town. The previous accountant had them listed as one asset with 2 buildings and just showing all the income under one and not separating the income. and all the depreciation and depreciable assets going on the first building.so the second building became asset of asset1.  This would be a mess if they were to sell the first building and not the second. Does it look like I am going to have to do a 3115 to separate these 2 as they should be? This second building was placed in service in 2007. My guess is that someone in the office did not know what they were doing when they set it up that way. They purchased more buildings after 2007 and they are listed  separately so their income an assets go to them. This is all under a partnership return. Partners are husband and wife. I don't believe how this was done. but the Irs  will be looking at the depreciation if I break this out and also why the depreciation changed if this is sold.

Any thoughts greatly appreciated.  UGH is it April 18th yet.

Michele

[Taxprohere]

off-season work.  Especially with 3115.  Best to fix it this year and let them know what headaches you're saving them from.  Extension filed?

[michele]

I am going to call them in tomorrow. My thoughts exactly definitely an extension. My brain is already on over load with  getting all the depreciation in then in reviewing all these assets I discover this. Yuck.