afm199
Well-known member
The due date has not arrived yet. Just submit an updated return, not an amended return.
Once you have filed a return, it's a bad idea to file another. Always file an amended return to correct errors.
The due date has not arrived yet. Just submit an updated return, not an amended return.
I don’t think filing an updated return is a thing...
Below is a link to Topic 701, Sale of Home; you must report 1099-S even if you qualify for exclusion from capital gains :thumbup
https://www.irs.gov/taxtopics/tc701
I don’t think filing an updated return is a thing...
Once you have filed a return, it's a bad idea to file another..
The filing and payment deadlines have officially been extended to July 15, 2020 for tax year 2019.
Does anyone know if IRA contribution deadlines have been extended as well?
edit: Though I found conflicting answers, its seems that the deadline to make IRA contributions has not changed.
IRA contribution deadline confirmed updated to July 15th.
https://www.forbes.com/sites/ashlea...nes-extended-due-to-coronavirus/#65a73f053808
You cannot make changes to a return once it has been efiled and accepted by the IRS. An amended return is required to make any changes and must be filed as a paper return.
You have until the due date to file a corrected version. After that if you wish to make a change and are still within the statute then you’re required to amend.
*4 years later... off the turnbuckle!*
False.
https://www.irs.gov/businesses/corporations/amended-and-superseding-corporate-returns
Thank you for the link! It references form 1120, does this also apply to form 1040?
New provisions from the CARES act recently implemented allows for wider use of losses including eligibility for carry back.
Check with your cpa if you have rentals or a pass through with losses during the last couple years as an amended return may be warranted.