Is it wise to amend my tax returns or simply use a the different ratio starting with my 2016 tax returns?

Is it wise to amend my tax returns or simply use a the different ratio starting with my 2016 tax returns?

@Eugene Horst I'd advise that you amend your plan to skip the wholesaling shift.

If you want to do that, sign an amendment to the contract to extend the closing date.

These repairs are separate from the "building" category from the initial purchase.To reiterate what others noted above, the costs associated with the initial purchase to make it "liveable" or "place it in service" should be added to the depreciable basis of the original building.I recommend finding a local CPA that can consult with you on amending your tax return if needed, and providing you the IRS publications that go into more detail regarding what constitutes normal repairs and what should be capitalized.Best Regards,Bill

I opposed the ordinance, I spoke against it , tried to layout a common ground solution, supported Luderman and Spang amendment.

APPRAISER TO AMEND APPRAISAL TO SHOW WHAT WORK MUST BE REQUIRED TO MEET FHA PROPERTY STANDARS" (sorry for caps copy/paste).

I recommend that you amend prior year returns in which you did not report this income.

They can not be amended at the whim of a buyer and seller of the note and security instrument.  

Additionally, You can amend the lease agreement to incorporate "late or unreported repairs will be billed back to tenant if it is determined that the damage was caused by late reporting of tenant."