Failed to claim depreciation on rental

[Kaizen B.]

I was unaware that I would have to pay taxes on depreciation when I sell my rental property whether I claimed it or not...which I haven't done for the two years I have owned it. So now I'm trying to figure out how to current my amateur mistake.

Any suggestions on how I should approach correcting this mistake would be greatly appreciated.

[Josh Levy]

@Kaizen B. You could contact your CPA and determine if it makes sense to amend the prior years. If this is a property that already generated a passive loss, it may not generate a tax refund unless you had other passive income that it may offset. Worth looking into though.