@DianeW777
Thanks! It's a relief that I can file Form 1040X for tax years 2023 and 2024 without needing Form 3115.
I am working on the 1040X for TY2023 now, and have few questions:
Steps:
TT 2023 - Update the Business usage to 100%.
Reason: The rental property was fully occupied throughout 2023. The business usage percentage was updated to 100%, and the depreciation for the year was recalculated accordingly.
Does this explanation clearly outline the reason of the amendment?
TT 2024 - Update the Business usage to 100%.
I am assuming TurboTax may not automatically update the amended 2023 values. Should I manually enter other details, such as the carryover depreciation from 2023? Please specify the exact form or section where this information needs to be input.
I can't find in TT desktop version offering an e-file option for 1040X. Is this correct?
