Depreciation not taken discovered after 1031 exchange to out of state properties - Spidell

Depreciation not taken discovered after 1031 exchange to out of state properties

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Message Board Depreciation not taken discovered after 1031 exchange to out of state properties

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    • #260644
      Anonymous
      Member

      I inadvertently failed to take California depreciation on a rental for certain assets in 2014, 2015 and 2016.  The property was exchanged for two out of state properties in 2017.  Are there remedies here?  Can amendments be filed for the open year (2016)?  Filing a Form 3115 is not an option since it must be filed by the due date which has passed.

    • #261580
      Sandy Weiner
      Participant

      Yes, you can file an amended return for the open year.

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