Thank you SusanY1!
So, is it worthwhile for me to amend all returns going back to 2014? I would assume it would only reduce my gain from the rental (good for me) or increase any carryover depreciation, correct? So all cases *should* result in less tax owes, or bigger refund?
If so, under what situations would it makes sense for me to not do that? If I was going to keep the property for longer than the 27.5 years?
Lastly, do I NEED to amend all previous returns? or can I just enter the details for the property and take the depreciation for the first time in 2019?
Thanks,
Alex
