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?