I have submitted my tax last night. I should wait for your reply instead.
In 2022, I have entered the full cost of my asset. TT has prorated my depreciation to 40% that day.
In 2023 & 2024, I have answered correctly stating that this property was rented for the entire year with fair market value. I thought TT would update the business usage for me!
I would like to choose the amended return option. According to the link you provided, amendments are allowed within one year. Does that mean I can only amend the return for 2024? Can I file Form 1040X without submitting Form 3115, correcting the business use percentage from 40% to 100%, and letting TurboTax recalculate the figures for me?
Additionally, I’ve missed approximately $6,000 of depreciation each for 2023 and 2024, totaling $12,000. In your opinion, what's the best option for me?
