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Investors & landlords
You will need to amend both the 2022 tax return and the 2023 return to add the rental property income and expenses on a Schedule E. You will also have to add the rental property as an asset that has to be depreciated over 27.5 years.
See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...
‎November 29, 2024
8:02 AM