Dear expert,
My tax filer made a mistake in my 2 rental properties' depreciation for many years and just realized it. (I over paid taxes). Unfortunately I already converted last year 1 of the 2 properties for self use and live in it now. Thus after his research, he said for that one, we couldn't get money back from IRS, not now, not later.
My questions:
1. What are the possible, legit ways I get money back, e.g. get the amount from the tax preparer? Go to court to sue him (total tax amount is >10,000)? Other solutions?
2. If he is willing to pay the money back to me, is it Income for me (i.e. I get 1099 from him) and then pay tax? How do I explain this amount to IRS, as the amount is not payroll or contractor service income?
Thanks a lot!!
