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Taxpayer didn't claim depreciation on rental property for many years then started to depreciate. Options to take care of unclaimed depreciation?

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Level 1

I've seen posts that seem to say that he can't  481(a) with 3115 because he has started to claim the depreciation even though he didn't claim it for some years before.  Can he still 481(a)?  If not is there anything he can do before or when he sells to take care of the unclaimed depreciation?

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Level 12

Besides amending the 'open' years, there isn't really anything that can be done.

Form 3115 is for a change in method of accounting.  If it was properly depreciated last year, there is nothing to change.

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Highlighted
Level 12

Besides amending the 'open' years, there isn't really anything that can be done.

Form 3115 is for a change in method of accounting.  If it was properly depreciated last year, there is nothing to change.

View solution in original post

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Level 1
Thanks Bill
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Level 2
I have a follow up to this question - I have a new client who never claimed depreciation on her rental property. Can I  claim depreciation on this property this year - not interested in recapture because property is now part of an estate - just want to claim this year's depreciation on final 1040. Is a Form 3115 necessary since depreciation on this asset has never been claimed before? Is it a change in accounting method? Thanks.
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