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Investors & landlords
Hi, I just discovered I did the same thing. I transferred to using TurboTax three years ago and at that time, copied over the cost basis for a rental property incorrectly and depreciated more than I should have for three years. Can I just correct the basis this year taking into account the total I have taken for depreciation which includes the extra these past three years and move forward, or do I have to correct it for three years back up to the present? Any help is very much appreciated.
‎April 1, 2022
8:01 PM