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Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 3827
Experience:  20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Form 8829, Part III, Line 36. I took depreciation on my home

Customer Question

Form 8829, Part III, Line 36. I took depreciation on my home for the first time last year. I was confused about this process however and entered a number on line 36 that was far too low. This year I see what I did wrong and want to enter the correct fair market value for my home. However, I am concerned that a significantly higher entry on line 36 may get unwanted attention. Should I be concerned enough about this that I stick with last year's low number, just to be safe? Thanks.
Submitted: 1 year ago.
Category: Tax
Expert:  Barbara replied 1 year ago.
Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.My best advice is to amend your 2014 tax return to reflect the correct amounts so that your 2015 and all subsequent year tax returns will be correct.Please let me know if I can assist you further.Thank you and best regards,Barb
Expert:  Barbara replied 1 year ago.
Just following up with you to see if you have any other questions. If so, please come back to me here, and I will be happy to assist you.Best regards,Barb