Depreciation missed for only previous year

Technical topics regarding tax preparation.
#1
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Client did his taxes in 2020 and missed depreciation in rental schedule E, and it is the first year the rental started. I am doing his taxes in 2021 (overseas deadline 6/15/2022 so it is timely). Regarding the missed depreciation, what are my options?

[1] Amend 2020 adding depreciation?
[2] Form 3115 on timely file 2021? It is only one year.
[3] Can I purposely not to take depreciation in 2021 and then file form 3115 in 2022 tax return (so it is two years in a row)?

Not directly related and hypothetical, if I file form 3115 to catch up the missed depreciation on prior years' returns which I did not prepare, do I become responsible for other errors in prior years' returns? Does it make a difference if I know the errors or I do not know the errors. If I know the errors and the client does not want to correct, can I still file form 3115 to catch up the missed depreciation?
Please consider visiting this post where my question at the end has not been answered yet:
viewtopic.php?f=8&t=12065, thanks!
 

#2
taxcpa  
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Unless bonus applies for some reason, you can amend as no method of accounting has been adopted. Not sure how you "purposely not take depreciation in 2021" and be in compliance with professional standards.
 

#3
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taxcpa wrote:Unless bonus applies for some reason, you can amend as no method of accounting has been adopted. Not sure how you "purposely not take depreciation in 2021" and be in compliance with professional standards.

If the client does not want to amend his 2020 tax return (he did himself) which misses depreciation and with other errors, can I still file his 2021 tax return with depreciation, ethically?
Please consider visiting this post where my question at the end has not been answered yet:
viewtopic.php?f=8&t=12065, thanks!
 

#4
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puravidatpt wrote:
taxcpa wrote:Unless bonus applies for some reason, you can amend as no method of accounting has been adopted. Not sure how you "purposely not take depreciation in 2021" and be in compliance with professional standards.

If the client does not want to amend his 2020 tax return (he did himself) which misses depreciation and with other errors, can I still file his 2021 tax return with depreciation, ethically?


Absolutely……. He should amend but that does not restrict you.

Like your handle by the way…. PURAVIDA. Me encanta.
 


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