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- Form 3115 question #4 "cease to engage in the trade or business"
Form 3115 question #4 "cease to engage in the trade or business"
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jkbuxton33
Level 2
02-12-2022
02:53 PM
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Client did not depreciate this rental properties for the past 6 years. He sold one of his two properties. Neither of which was depreciated. I'm filing form 3115 to correct this.
My question is about Question # 4 which states "did or will cease to engage in the trade or business to which the requested change relates, or terminate its existence, in the tax year of change". Do I need to do separate forms for each property so that I will check Yes on the form the property he is keeping and No on the form for the one sold?
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