No depreciation claimed
Review the rental’s placed-in-service date and the returns filed since then. The history helps determine whether an accounting method change is appropriate.
Missed depreciation? Selling in installments?
Get the tax treatment right.
Rental deductions missed? Buyer paying over time? Don’t guess at the tax. Get your property records, depreciation and sale terms reviewed together.
01
Tell us about the property
The rental history, sale terms and years involved.
02
Know the work and the fee
Agree the records, forms and cost before we begin.
03
Get the filings handled
We calculate the adjustments and prepare the required reporting.
Over 3000 ★★★★★ Reviews
Missed rental depreciation
Bought a rental but never claimed depreciation? We review the filing history and determine whether Form 3115 or another correction route applies.
Review my missed deductionsIncorrect depreciation method
An incorrect method or recovery period can carry through several returns. We reconstruct the schedule and assess the accounting method change needed.
Check my depreciation scheduleImprovements & property basis
Renovations, capital improvements and property records affect the depreciable basis. We review how the costs were treated before recommending corrections.
Review my property recordsSeller-financed property sales
Receiving at least one payment after the year of sale? We review whether installment treatment applies and prepare Form 6252 where required.
Discuss my installment saleAnnual installment reporting
Separate taxable gain, recovery of basis and interest. We track payment records and prepare applicable reporting as payments are received.
Prepare my Form 6252Depreciation & sale planning
Prior depreciation affects the sale calculations. Review basis, applicable recapture and the installment position together before filing.
Review my sale tax positionOwn the property. Understand the tax.
Start with the issue, even if you don’t know which form you need. We’ll review the facts and explain the work.
Form 3115 and Form 6252.
Different jobs. Connected records.
Form 3115 requests an accounting method change. Form 6252 reports gain from an eligible installment sale.
For rental property owners, one may address missed or incorrect depreciation, while the other tracks gain as sale payments arrive. The depreciation history and adjusted basis connect the two.
Dimov Tax reviews prior returns, reconstructs schedules and examines sales agreements, then prepares the filings and supporting calculations your situation requires.
Review my records with the teamMissed depreciation is worth a closer look.
Start by establishing what happened, how long it has happened and which correction procedure applies.
Wrong method or recovery period
We compare the existing schedule with the required treatment and calculate the difference before preparing a correction.
Improvements missing from the records
Acquisition costs and capital improvements need supporting documents. A basis error may require a different correction route from Form 3115.
Form 3115.
Correct the method, with the records behind it.
A depreciation accounting method change may require a Section 481(a) adjustment, based on the difference between depreciation claimed and depreciation allowable before the year of change.
The applicable procedure determines the filing requirements and adjustment treatment. Eligible automatic changes follow their prescribed rules; other changes may require advance consent.
We establish the route before preparing the form. Form 3115 is not a universal fix for every depreciation mistake.
Assess my Form 3115 needsWhat we review
History
Prior returns and depreciation schedules
Basis
Acquisition records and capital improvements
Change
The method, adjustment and required filing procedure
Form 6252.
The payments and the gain are different numbers.
An eligible installment sale generally involves at least one payment received after the tax year of sale. The agreement and asset type determine the treatment.
Report the sale accurately
We review the selling price, adjusted basis, selling expenses, debt and payment terms. Those figures support the gain calculation and gross profit percentage.
Not every sale qualifies. We assess the applicable rules before using installment treatment.
Review my sale agreementKeep annual reporting consistent
Payments can include taxable gain, recovery of basis and separately reported interest. We reconcile the payment records with the prepared schedule.
Depreciation recapture taxable as ordinary income is generally reported in the year of sale, rather than spread across installment payments.
IRS guidance on installment salesFrom property records to prepared filings.
Two different processes, with the calculations and supporting records kept together.
Form 3115 preparation
01
Review the history
Identify missed or incorrect depreciation from prior returns and property records.
02
Establish the correction route
Assess accounting method rules, eligibility and the year of change.
03
Calculate and prepare
Reconstruct the depreciation schedule, calculate the applicable adjustment and prepare Form 3115.
04
File and carry forward
Follow the required submission procedure and reflect the approved or permitted treatment in the return and ongoing schedule.
Form 6252 preparation
01
Review the transaction
Examine the agreement, selling price, basis, expenses and payment structure.
02
Calculate the tax treatment
Determine eligible installment gain, separately reported interest and any sale-year recapture.
03
Prepare the reporting
Complete Form 6252 and the related return reporting where required.
04
Reconcile subsequent payments
Maintain the schedule and prepare applicable reporting through later payment years and the final payment.
Real people. Experience behind the calculations.
Our team includes CPAs, Enrolled Agents, tax accountants and financial planning specialists. Your property history, return and supporting work are reviewed in context.
George Dimov
CPA · President
Xintian Wang
CPA · Senior Tax Manager
Anvar Akhtamov
EA, CPA · Senior Tax Accountant
Tsagan Noosan
EA, CPA
Alexander Chertok
ACCA, DipIFR
Achim von Bodman
CFP
Bobojon Bobojonov
MA
Doniyorkhon Kudratov
Tax Accountant
Before the sale.
After the missed deductions.
There’s a useful next step.
We analyze records, prepare the required forms and advise on the tax implications of your property decisions. Ongoing support keeps later payments and future filings connected to the original work.
The records that make the review possible.
Purchase and improvements
Closing statements, acquisition costs, improvement invoices and the date the property entered rental use.
Depreciation and returns
Prior tax returns, asset schedules, rental summaries and details of deductions already claimed.
The sale and payments
The sale contract, closing statement, financing agreement and principal and interest payment records.
A few questions before you start.
Do I need Form 3115 for every missed depreciation deduction?
No. The nature of the error and the filing history determine the correction route. Some issues involve an accounting method change; others require an amended return or a different procedure.
Does Form 3115 change all my old tax returns?
Not usually. A qualifying method change can use a Section 481(a) adjustment in the year of change instead of rewriting each prior return. We assess the applicable rules and timing.
Does a property sale automatically qualify for Form 6252?
No. Payment timing is only part of the test. The property type, agreement, relationship between the parties and other rules matter. We review eligibility before preparing installment reporting.
Can all the sale tax be deferred until I receive the money?
No. Interest is separate, and depreciation recapture taxable as ordinary income is generally recognized in the year of sale. The remaining installment gain depends on the qualifying transaction.
Can you help with both forms for the same property?
Yes, where both are applicable. Depreciation history affects adjusted basis and sale calculations, so we review the related work together. The form and timing requirements remain distinct.
What should I bring to the first enquiry?
Start with the property type, the years involved, whether it has been sold and how the buyer will pay. We then identify the relevant prior returns, schedules, purchase records, improvement costs and sale agreement to share securely.
Get the records reviewed.
Get the right filings prepared.
Tell us about the property, the depreciation issue or sale terms, and the years involved. Our team will explain the work and fee before preparation begins.
★★★★★Over 3000 Reviews
(866) 681-2140info@dimovtax.com
Get Form 3115 / Form 6252 help
Your enquiry has been sent.
The Dimov Tax team will review your details and contact you about the next step. If you need to add something, call (866) 681-2140.