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Correcting prior depreciation on old return

January 14, 2017 • Duane Shelton • Log In to Post Comments

Is there a remedy for correcting depreciation and basis on returns which the statute of limitations has expired?

My situation:   Prior preparer incorrectly stated depreciation and basis on rental property in 2011.  The error was carried forward to 2015.  The taxpayer is considering selling the property.  I need to correct basis and accumulated depreciation. 

Any suggestions?

D Shelton


For California purposes, you may not correct a closed year. For federal I believe you can use a 3115 to correct the error.


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