Claiming Past Rental Depreciation

iwoloschin
iwoloschin Member Posts: 2 Newcomer
in Filing my taxes

I got married this year and my wife has a property she has been renting since 2013. While preparing our taxes I believe she has not been claiming depreciation on the rental property. Looking at other tax preparation software they reference a Form 3115 that can be filed to claim catchup depreciation, does FreeTaxUSA offer this option?

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Answers

  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 400

    Hello iwoloschin,

    I am sorry, but we do not support the Form 3115. You can amend the prior 3 years and see about getting a refund with the higher expenses.

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  • iwoloschin
    iwoloschin Member Posts: 2 Newcomer

    Well that's a bummer, three years isn't going to be enough to correct this. What a shame, I've been happy not supporting TurboTax and their ilk…but it looks like I need to correct this or face consequences if we ever sell the property. I guess I'll check out https://www.olt.com first, looks like they support 3115 and anything's better than giving TurboTax money.

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