Richbarbhamm
Returning Member

Investors & landlords

Thank you for the quick reply. 

 

Unfortunately, I filed and later questioned my inputs.  I ended up owing @$9500 to the fed - scheduled to be paid next week.   If I amend to the 141k basis and change nothing else, then it looks like I would get about $4500 back.   Sounds like I should amend. 

 

When is the best time to file the amended return?   

 

Does this set me up for additional scrutiny and possible audit?  I have all the records of the original remodel and did purchase the audit protection feature. 

 

regards, Richard