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Investors & landlords
Hi @KarenJ new with TT, and same situation here…2022 filing and TT changed my foreign rental properties from 27.5 to 40 and 30 years. I cannot change the amounts on Forms. I’m using TT Home & Business. If I can’t change back to 27.5 years, will I need to amend prior years returns (up to how many years?). Or do I need to file a form (what IRS form number?) with my 2022-1040 about the year change? Or do I just leave it alone, file 1040 as is (with new depreciation years). Many in advance for your response and advise….
R….
May 16, 2023
1:41 AM