Correcting the mistaken Schedule E purchase price of a residential property. Observations and questions:
1 - The purchase price correction [though significant] does not change the total tax owed or the [small] refund. This is expected.
2 - Depreciation and carry forward amounts are updated. Also as expected.
3 - BUT.. TT 2021 generates the amended return forms where the previous refund [I already got], shows up again as a refund IRS owes me.
This is not expected. The amended return should show no taxes owed and no refund.
What am I doing wrong, what am I missing and how do I correct this ?
