2926683
I need to amend several past years (19-21) due to specifying incorrect business use % for the rental. It was set at 25% and I kept transferring it over and over. It should be set to 100%. This results in a small refund from the state and no changes on federal return.
This change affects accumulated depreciation amount on the rental which would need to be recaptured at the time of the sale. Is there a process to track the change in TT, or do I need to manually change it in 2022 return? I have not filed it yet, but its pretty much ready to go.
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After you first amend 2019, you have to manually change it in the 2020 & 2021 amended returns. Then for 2022 you can transfer from the amended 2021 return (but only before you start 2022) or you will have to manually update 2022 also.
Please see this Turbo Tax FAQ on when to amend.
How do I amend my federal tax return for a prior year?
After you first amend 2019, you have to manually change it in the 2020 & 2021 amended returns. Then for 2022 you can transfer from the amended 2021 return (but only before you start 2022) or you will have to manually update 2022 also.
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