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Investors & landlords
Might be a common mistake but form 3115 is NOT for your situation. It's when you adopt a method of accounting that isn't allowed and your case involves a basis/math error.....and basis or math errors are not "methods of accounting that are not allowed" so you don't use form 3115. You can amend the open tax years and that's about it.
‎April 8, 2021
10:22 AM