@michash2998 wrote:
I don’t mind filing amended return. Since I brought the rental in 2018, can I amend for the last 4 years now? If I amend all prior years, will my cost basis be corrected for entering the sale of this rental I closing in Oct 2022? Thanks
Sorry, per @Carl , if the mistake was more than 2 tax returns ago, you can only fix the problem by filing form 3115.
As part of the calculations for form 3115, your accountant will determine your basis and any depreciation recapture that you will use on your 2022 return.
