form 3115

[Kram BergGold]

Can Form 3115 be used to correct the following depreciation errors and omissions:
On a residential rental property, the tax pro depreciated 100% of basis. No land value was subtracted and it appears he also used the 200 DDB method rather than straight line.

[Bird Legs]

Form 3115-Depreciation error

Yes, the form 3115 can be used for this. See page 9-20 of the 2006 TTB.

[Kram BergGold]

Poory worded question

TTB page 9-20 essentially says in the case of unclaimed land value or use of an unallowed method you need IRS consent. Use Form 3115. Does Form 3115 give you consent or is there something I have to do to get consent.

[Brad Imsdahl]

Form 3115 is the procedure you use to obtain IRS consent. That is why the name of the form is Application for Change in Accounting Method. If IRS decides they don't want to give you consent, they will let you know.

[LawrenceGR]

Automatic Approval

I did one of these last year or so, on the cover letter you have to print "Rev Procedure 2002-9 2002-3 Automatic Appoval Requested". I did this and so far I haven't heard anything from the IRS. I hope this helps.