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Investors & landlords
Unfortunately, the TurboTax Help article is not entirely accurate.
If a taxpayer uses the same impermissible method of determining depreciation in two or more consecutively filed tax returns, amended returns are not allowed.
See https://www.irs.gov/publications/p946#en_US_2022_publink1000107386
Rather, a Section 481(a) adjustment must be made on Form 3115.
‎February 18, 2024
5:33 PM