Why you should do this instead of amending returns to claim past depreciation

I recently discovered that you don't actually need to go back and change your tax returns if you missed out on depreciation from previous years, particularly if you didn't break out your building components.

Rather, you can apply a catch-up adjustment in the current year using a form known as Form 3115. They refer to it as a "change in accounting method." Much less complicated than I had anticipated, and based on what I understand, the IRS fully supports it.

If I hadn't run a scenario through Maven's calculator, I wouldn't have even investigated it. I looked into how the correction is handled because it revealed that I could still profit from a property I purchased some time ago.

Have any of you completed this task for customers? I wonder how frequently it is used or ignored.