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Form 3115


Catherine

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Has anyone ever seen one of these questioned?  A client called me, saying she thought I had one checkbox on the stupid thing wrong (a client who came to me specifically *because* she could not figure out depreciation on a rental property; now she's expert on Form 3115?! lol).  I told her to send it in as it was.

But it got me to thinking - has anyone ever seen one of these monsters questioned?  They get efiled with the returns, a copy gets mailed to Kentucky - and I've never heard a peep about any of them. My working assumption is they figure we do 'em right, maybe look for the 481a correction, and the paper copies just get scanned and attached to the master file.  How far off am I, does anyone want to weigh in?

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No, I never have either. I can tell you that when one of my corp clients called the state to inquire about a refund that was due for that year that included a 3115 for the 481 adjustments due to the repair regs, and was told that the delay was because the client had filed corrected returns. I don't think the state knew what to do with all of that extra information, and I could just picture the poor person that had to wade through it.  

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