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Posted by Dave on February 14, 2007, 10:02 pm
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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.
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