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After you file
The IRS and the online TT expert responses say that if the cost basis or depreciation for a rental property has changed for a prior year then an amended return must be filed. In my case these changes don't affect any of the amounts in the 1040-X. They just affect the amounts in form 8582 and Schedule E which WILL affect my return once I sell the property in a future year. So the question still remains - should the original and corrected amounts in 1040-X be filled in with the "Net Change" column = 0.0 or should they be blank? FYI I am including form 1040-X along with only the forms that have changed, namely Schedule E and 8582.
March 23, 2021
12:16 PM