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Investors & landlords
I have confirmed my tax preparer calculated depreciation incorrectly. On Schedule E Line 2, they used Days "Available" to rent when they should have used Days "Rented" for the Fair Rental Days. Thank you for pointing that out.
My tax preparer says this can be resolved by adjusting the passive loss suspended carryover rather than file an amended return. We are not allowed a rental loss due to income limitations.
Is this possible for me to do myself in TT? Or, should I work with a (different) tax professional?
March 7, 2024
3:06 PM