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Investors & landlords
@slcdawg wrote:The error was the preparer incorrectly entered the fair rental days on the market. This resulted in the depreciation amount being about 25% of what it should have been.
Did you also use it for personal use?
If there was no personal use, the number of days entered would not change anything. If there was personal use, it should show the number of days it was ACTUALLY rented, not the number of days it was merely available for rent.
*IF* there is an error, you need to amend 2022 to correct it (Form 1040-X). Form 3115 does not apply.
‎February 13, 2024
9:07 AM