For what it’s worth I got the following info… the IRS does not compare past to present returns. It’s not how they process things. It was also generally stated t...
Right and that’s the issue. I can’t put in the full depreciation unless I continue to use the incorrect cost basis. If I put in the FULL cost basis (not my port...
As I mentioned originally the asset was sold. It was not fully depreciated. It’s on a 27.5 year schedule starting in 2003 (converted to rental in 2005).the only...
The form and IRS won’t allow me to use the correct 50% basis while then claiming the actual depreciation I took. That would require taking more depreciation tha...
It affected my claimed loss for 2017-2020 but I couldn’t take that loss (no diff in actual taxes owed or paid in those years) and could easily correct it this y...
