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E-filed state return, then realized there's a math error, so deductions are overstated by $3500. Taxable amount is $0 whether I correct the return or not. Should I amend?

Forum|Forum|4 years ago
February 17, 2022
1 reply
27 views

Return shows NOL of -$14,500, which would become -$11,000 if corrected. Either way, no taxes or refund due.

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Best answer by JohnB5677

Yes, You should amend the return. This may or may not affect the current tax return, but it will affect the carryover if there is one going forward. Even if you could not use the carryover in one year, you must still amend the return to comply with Internal Revenue Service rules.

JohnB5677Answer

Level 15

Yes, You should amend the return. This may or may not affect the current tax return, but it will affect the carryover if there is one going forward. Even if you could not use the carryover in one year, you must still amend the return to comply with Internal Revenue Service rules.

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