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The following are examples of a https://backinsights.com/professional-real-estate-bookkeeping/ change in method of accounting for depreciation. Generally, you must get IRS approval to change your method of accounting. You must generally file Form 3115 to request a change in your method of accounting for depreciation. Real Estate Tax Planning Strategies The election must be made separately by each person owning qualified property (for example, by the partnerships, by the S corporation, or for each member of a consolidated group by the common…