Was also a helpful read for only $20 There should be an ETHOS and Bill of Rights for real estate investing. 1st Amendment - You have a right not to be guru'd!  

I understand at a high level that you need to understand the by-laws of the specific coop to know how many votes are needed to amend the by-laws, but I'm just wondering what other things there are to consider. 

I cannot even amend the old year returns as its more than 3 years!

🎯If the numbers are large enough, it might make sense to amend prior year returns.  

If they continue to push for it, simply remain firm, or tell them a lease amendment is necessary to charge them a $500 fee per repair call to compensate you for your time.

Many experienced RE attorneys should likely already have something similar to your needs that can be amended to suit your business.

(Answer: yes)If I had a rental property for 3 years and never claimed depreciation, can I fix this mistake by filing amended tax returns for the last 3 years?

A lie:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

However, this will allow a property owner to capture missed depreciation benefits from prior years during the current tax year without the need to amend prior tax returns!

Some people make mistakes during their lifetime for which they can make amends, if we allow them the opportunity.