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I took over a client from a guy in Reno.
The 2021 Form 540, Schedule CA has no adjustment on Line 5 of Section B. This implies that Fed Depreciation = CA depreciation. BUT Form 3885 shows a depreciation difference of over 100K. Yet there is no addition amount on Line 5 of Schedule CA. This tax return is not correct.
I'd really like to do something.
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I give you my blessing to go forth and do an amended tax return. Just be careful that no election was taken to do this mess.
Answers are easy. Questions are hard!
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As long as Father George has given you his blessings for the day, what else can anybody say or do?
As a side note, there are good CPAs and bad CPAs --------- just like any other profession. But when you get stuck cleaning up after a bad one, it takes awhile for your blood to stop boiling.
Slava Ukraini!
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@IRonMaN yeah you are right. Although sometimes a good accountant may get old or sick or have a traumatic experience, and he or she may slip up. So we may have to consider giving them a little bit of slack.
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Compassion always. Agree with you PATAX
He didn't include mortgage interest on four rental properties! So my compassion is limited when a CPA doesn't have review or reconciliation procedures.
