We accidentally plugged in ~$4k less closing expenses (agency fees) when determining the cost base for a rental property. Last year was the first year filing in the US, via a CPA - we will no longer work with that person.
Can somebody help me understand how to correct that? - Apologies, I struggled to follow the mostly more complex circumstances referred to in other posts. @Carl thoughts?
From what I understand, form 3115 does not apply. Would I send in a 1040-X+revised schedule E? Or can I just shift over to the correct depreciation amount while keeping track of the cumulative? Would TT support this correctly - have found there are some rigidities?
On another note: Is it required/advisable to change anything? -- I would just let it go (~4k over that period seems negligible), but unsure since the number plugged in was simply wrong, I only have paperwork to back up the correct larger number.
Thank you so much
