I have personal property that was converted to a rental unit in 2015. When determining the depreciation basis for this property, I used the Fair Market Value, as suggested to me by a TaxAct representative who quoted page 15 of IRS publication 527.
I later read that page myself, and found that this quoted text omitted a later example explaining that the land value of the home must be deducted from the Fair Market Value to arrive at the depreciation basis.
The net result is that I want to correct for this. Scouring Google results suggests that I may be able to file Form 3115 with a positive Section 481(a) adjustment (described on page 8 of Form 3115), and then report that adjustment as additional income on this year's Schedule E. As there is no 'Additional Income' line on Schedule E, it looks like perhaps I'll need to attach a detail schedule to accommodate this.
If it sounds like I'm answering my own question, the thing is, I don't know if I am.
I tried calling the IRS through a few channels, to check my reasoning. As soon as I explain the problem to a representative, they politely explain that they 'no longer answer that kind of problem'. (I find this to be a bizarre response from an organization that I'm certain will not hesitate to brutally 'correct' me should they decide that I answered the question improperly).
Looming IRS ethics questions aside, can anyone advise? Is the solution that I've described above reasonable?