Continuity mistake: At the fair Stephen throws Lipnicki on the ground. When he gets up his shirt pocket is torn although Lipnicki doesn't touch it during their short fight, as you can see in slow motion. (00:53:00)
Continuity mistake: When Billy eats all the ice-cream he is shown lying in the yard in a bathtub, with all the empty wrappers spread around. When his father finds him he is lying on some wooden steps, again with all the wrappers scattered around. (01:18:35)
Continuity mistake: When Billy falls through the top of the water tower, there's a large hole in it. It disappears later.
Continuity mistake: In a flashback scene to when Elijah Wood's house is being demolished, the whole house, including the brick fireplace fall. When Elijah Wood approaches the house site and Kevin Costner is sitting there, the brick fireplace is still standing.