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change depreciation amount
I bought a $400,000 rental property (condo) last year. The land value was entered as $20,000. The land value was entered too low in last year tax return. It seems the land value should be $80,000 or $120,000. Can I change the land value to $80,000 or $120,000 this year without any tax problems in current year and future years?
Thanks!
‎April 6, 2024
6:30 PM