Welcome back! Ask questions, get answers, and join our large community of tax professionals.
Showing results for 
Search instead for 
Did you mean: 

How to fix previous year rental depreciatrion depreciated ?

Level 5


I have a new client who had depreciated rental properties at purchase price which included land value at begining since 2011 and 2015.

How do I fix it?

Do I need to amend each year from 2019 and go back to the begining of 2015 and 2010?

Or just make correction in 2020 and adjsut the depreciation all in 2020 going forward?


This is very common for rental properties


0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Comment 1
Level 15

Past years stay as is. Taxpayer is stick with the greater of allowed or allowable depreciation. In this case allowed is larger.

For current year, perhaps you can change. There was a post today or yesterday where taxpayer claimed too little depreciation and Form 3115 was discussed. I can't find it. @TaxGuyBill is knowledgeable in this area and weighed in. I always have to look it up.

I did find this one

Solved: Rental property since 2010 but land in the basis ... - Intuit Accountants Community