I noticed on the depreciation Schedule that back in 2002 incorrect depreciation was taken on A SUV. The asset was placed in service during 2001 and 2006 is the last year of depreciation. The depreciation missed from 2002 amounted to $3,572.00. So you can say it was a math mistake. Based on Rev Proc 2007-14 it seems to be saying that I can catch this depreciation up if through a disposition. I assuming this means sale, a distribution to the shareholder, or a final return. Anyway, is there any other way of catching the depreciation up besides disposing of the asset and filing 3115. I can't amend the return, because of the three year limit. From reading it seems to say a math mistake is not an accounting method change. So am I stuck with catching up the depreciation only when the asset is disposed of through sale, distribution, etc. Thank you.
- posted
17 years ago
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