Response to your questions:
- Question 27 - you are correct
- Question 28 - the answer depends on whether you will take the entire adjustment into account in the current year (or are eligible), or whether you will take it over multiple years as allowed.
- Whether the adjustment is negative or positive does not always impact the response
- A negative adjustment provides the taxpayer with a benefit, so taking the full adjustment in the year of change could be beneficial.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
