TaxGuyBill
Level 15
06-28-2023
12:16 PM
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If you haven't already done so, you need to verify that correcting the depreciation is allowed to be corrected by amending, versus the correction as being a "change in method of accounting" (which would require Form 3115). If you are unsure, please post the details about how exactly the depreciation is incorrect.
If it is the type of correction that allows amending, then hypothetically yes, you can amend to correct the amounts, which will change the Passive Loss carryover. I said "hypothetically" because I have read of situations where the IRS is dumb and won't process the return, but it SHOULD be able to be done.