Missed Depreciation on Rental

[carolf]

Two prior accountants skipped depreciation on a rental building. They missed 2012, took depreciation in 2013, then missed 2014, 2015, and 2016. I can amend the last three years to get money back, but not 2012. Does this call for a 3115 instead?

Thanks for any input.

[Lion]

Yes.......

[TAXNJ]

When you....

Two prior accountants skipped depreciation on a rental building. They missed 2012, took depreciation in 2013, then missed 2014, 2015, and 2016. I can amend the last three years to get money back, but not 2012. Does this call for a 3115 instead?

Thanks for any input.

say "prior accountants" what does that mean? Are they tax preparers, bookkeepers, licensed accountants? Reason asking is that the word "accountant" is used sometimes in a generic way and does an injustice to the profession.

Thanks

[ATSMAN]

I have seen over 10 years of missed depreciation, Just file a 3115 and correct the issue. The year you fix it depending on other income it may cause a NOL.