investment property

[navarios]

we have been renting our second home for the last 4 years but have not included it in our filing.   can we start reporting now going forward or do we have to go back to 2018?

[ErnieS0]

You should go back and amend your prior year returns. 

One of the deductions for a rental property is depreciation, i.e. deducting off the value of your home over time. Your deprecation should start in the year you began using the second home as a rental, otherwise it will not be correct.

If you are amending multiple years, it may be easier to pay an accountant to do it for you.

For help amending using TurboTax see How to amend (change or correct) a return you've already filed