? for Tom--Depreciation

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  • AnythingsPossible
    Daycare Member
    • Jan 2010
    • 802

    ? for Tom--Depreciation

    We purchased our home in March of 2009, and didn't claim depreciation on 09 taxes, would I have to refile our whole tax return for 09 in order to claim or is there a way to claim 09 depreciation on 10 taxes?
  • TomCopeland
    Business Author/Trainer
    • Jun 2010
    • 3062

    #2
    depreciation

    You have a choice. You can amend your 2009 tax return, claim the home depreciation and get a refund.

    Or you can file Form 3115 with your 2010 tax return (as well as mailing a copy to the address on the instructions to this form), claim the 2009 depreciation and transfer the amount to your Schedule C for 2010.

    For details, see my 2010 Family Child Care Tax Workbook and Organizer.
    http://www.tomcopelandblog.com

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