Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago,
Should I amend last year's return or not due to incorrect depreciation?
Hi folks, I frequent the forums quite a bit but don't post a lot. Perhaps someone has a little experience with my question though: I have one rental house and do my own taxes (maybe I'll rethink that last part...we'll see). While doing this year's taxes I noticed that somehow I took almost two years worth of depreciation on my rental (last year) instead of the correct one year. I've had the rental for two years in total so this year (2014) I should take the 2nd year of depreciation. Not a clue how I didn't catch this last year. Nonetheless, should I amend my 2013 return or simply correct the depreciation on this year's (2014) return and not worry about it. Otherwise, everything else looks ok. Any thoughts from the fine folks out there?