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Investors & landlords
Here is the meat & potatoes answer for you- If you have a problem backing into prior depreciation, inquire with prior CPA is a must. Ask for depreciation workpapers. Amend if you don’t agree.
If you agree with him, amend your own work. If you don’t agree with him, amend his work. Present a uniform front going forward.
You asked: how can you rectify what you think is the correct depreciation? Amend, if necessary.
The absence of the land value is the second most concerning aspect of your quandary. The first concern is while the CPA was different from you and why no years were amended upon this professional’s advice.
March 15, 2023
6:09 AM