So I took a bad advice and used way too low cost basis for depreciation in FY22 (first year of rental). This caused a loss of $2K (rental income - expenses - depreciation) to be carried over to FY23 whereas if correct cost basis would have been used it should be closed to $9K.
FYI - My rental income is counted as passive income.
Q1 - In my research it seems an "Amended FY22" return could fix it but I don't see a place to mention cost basis. What software can I use to take care of this?
Q2 - Do I need to wait for Amended 2022 return to be accepted by IRS and then file my FY23 return? Considering we are so close to 4/14 deadline, can I request extension from IRS? I owe money to IRS in my FY23 return.
