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dsmhawki
New Member

Can I amend a cost basis on my 2013 tax return for rental property? The original basis was figured at $235,000 and should have been around $150,000.

Subsequently, we would also need to amend our depreciation amount on our 2013, 2014, 2015, and 2016 returns.  Is there an easy fix to this?
1 Best answer

Accepted Solutions
MinhT
Expert Alumni

Can I amend a cost basis on my 2013 tax return for rental property? The original basis was figured at $235,000 and should have been around $150,000.

You can only change the cost basis and deprecation of your rental property by amending your past returns. As you can amend only three years from the due date of the return, you can only amend tax years 2014, 2015 and 2016. Note that you need to amend your 2014 return before April 15, 2018. You can no longer amend your 2013 return.

You need to amend the earliest year first.

To amend, please follow these links:

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty16/

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty15/

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty14/



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
MinhT
Expert Alumni

Can I amend a cost basis on my 2013 tax return for rental property? The original basis was figured at $235,000 and should have been around $150,000.

You can only change the cost basis and deprecation of your rental property by amending your past returns. As you can amend only three years from the due date of the return, you can only amend tax years 2014, 2015 and 2016. Note that you need to amend your 2014 return before April 15, 2018. You can no longer amend your 2013 return.

You need to amend the earliest year first.

To amend, please follow these links:

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty16/

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty15/

https://turbotax.intuit.com/personal-taxes/cd-download/amend/ty14/



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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