My accountant forgot to divide in half the purchase price and land price of the rental property on my 2003 return. Can I fix this by adjusting in my 2006 return? Also, the depreciation amounts are now wrong for all years going forward, do I need to correct that as well? We are planning to sell the house real soon, so if anyone could please advise. Purchase price was 277500 - 25000 for the land. 252500 is what it says on my 2003 return and my brothers return, when it should say half that, as we are equal partners. Someone please help if they know....Do I need to amend some or all returns or can I fix it on the 2006 return.....Thanks in advance...Vincent
2007-02-11
00:49:09
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7 answers
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asked by
Vincent G
2