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Investors & landlords
Instead of filing amended returns for 10 years, I recommend you amend 2021 and file Form 3115 - Application for Change in Accounting Method. Take all the depreciation and back expenses in a single year. TurboTax does not support Form 3115, so you want be able to use TurboTax to file Form 3115. I strongly recommend you have a local tax professional with experience filing Form 3115 for rental property.
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‎April 13, 2023
4:12 PM