I just discovered that I entered the wrong cost basis when filing my first year on rental property. I lived in the property for 7 years before converting it to a rental. I entered the purchase price NOT the FMV at the time of entering as a rental and the wrong date, 2014 should be 2017. I have prepared amended returns, including correcting the depreciation, for 2020 and 2021. This will actually refund me money, minimal. I am more concerned about it triggering an audit. ?
