We are closing this week on the sale of an office condo that we purchased in 2007. At that time the CPA preparing our taxes inadvertently entered a purchase price that was higher than the actual purchase price. (He included the office build-out, but the company renting the condo paid for that.) When I took over the preparation of our taxes using TurboTax, I simply moved over all of the information from my previous tax return, not realizing that I had carried forward an incorrect purchase price. I only discovered that when we decided to sell the unit and I had to find the original documentation. Unfortunately, this error led to excess depreciation of the asset. I changed the asset value in TurboTax, but really need to claim no depreciation for 2020 and 2021, not reduced depreciation, to resolve the issue. TurboTax allows me to override depreciation, but then I can't file electronically. I looked at form 3115 (not supported by TurboTax), but it didn't seem to apply to my situation. I have tried to call the IRS and the state DOR but they do not offer tax solutions in advance. Does anyone have advice for this situation? Thanks.
