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Investors & landlords
So i need to file an amend for 2020 & 2021 ?
Yes. But understand a few things here.
It's important that you amend the oldest return first, and work forward chronologically.
When you amend a return, you can not import from the prior year tax return. Now amending the 2020 return won't be an issue since that was your first year. But when you amend the 2021 tax return "YOU" will have to manually change such things as the "prior years depr" amount, since it's not possible to import the corrected amount from the amended 2020 tax return. Just be aware of that. Otherwise, you'll just make things worse down the road.
‎January 4, 2023
9:47 AM