TaxGuyBill
Level 15
04-03-2021
11:39 AM
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- Verify that the Basis is wrong, including determining if "land" part part of the wrongness.
- Enter the correct Basis on the tax return you are preparing.
- For the "prior depreciation", enter the larger of (a) the amount of depreciation actually claimed or (b) the amount of depreciation that SHOULD have been claimed.
- Determine if amending prior years is worthwhile.