A Brief Overview of Depreciation. Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property.
How far back can you submit returns or amended returns and still get a refund? You can go back three years from the original deadline of the tax return to get a full refund. After three years, you will not be able to obtain a refund. It is important if changes are needed on an already filed return that these changes are made within the three year time frame.
Think of it as proof that you filed. If the state has any reason to give your return a closer look then they will and that could delay a refund. CA can also go back 3 years and review a filed return. If they audit a prior year then the taxpayer has the right to present their proof of all the deductions claimed.