3073186
Hi All,
After more than a decade, I strayed from TurboTax and used an accounting firm to file my 2021 taxes. I returned to TT this past year, and realized that the firm filled out a Schedule E for my rental income last year instead of a Schedule C. I did not catch this at the time, and it would've made a considerable difference in the taxes I had to pay.
I would like to file an amended 2021 return to change this using TurboTax instead of using the same accounting firm again. Is this possible or even advisable?
If so, can I amend this return using the downloaded version of the 2021 TT software? I just want to make sure before I pay for it.
Thank you!
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Rentals should be on a Sch E ... putting them on a Sch C will actually have you paying more in taxes usually so you may have been incorrect all these years. If they made the error then you should go back to them and they should amend the return for free.
Or they should tell you why they put it on Schedule E instead of Schedule C like you were doing. There are pros and cons for each.
@Critter-3 could actually be less taxes if a loss no PAL limitation.
personal property rental goes on schedule C.
see this link which describe which form to use for real estate rental.
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