2022 Filing Amended Return - Schedule D

[bobp1426]

I have filed our 2022 1040 Federal Tax return which includes the sale of a vacation home in 9/2022.  I listed the sale as Long Term via the step by step process but after checking the Form 8949 I noticed that the "acquired date" was entered incorrectly.  It was listed as acquired in 5/2022 when it really was acquired in 5/2020.  When I corrected it, the Amount due remains the same as it was forced as a long term sale.  Is it a good idea to file an amended form stating the date on Form 8949 is incorrect even though there is no change in amount due.  I'm concerned that some IRS computer might flag the mistake and issue a notice for more taxes due since with that incorrect date if would be a short term sale.  Thanks in advance. 

[DavidD66]

Rather than file an amended return, I would wait to see if the IRS sends you a notice.  If they do, simply reply in writing to them and explain that it was a typo.  That said, you could file an amended return, but there won't be any changes reflected on Form 1040-X, just an explanation on page 2.

[bobp1426]

Thank you - Probably will go ahead and file an amended return to avoid and confusion.

[fanfare]

The box checked determines the holding period, not the Date Acquired.

@bobp1426 

[bobp1426]

Thank you - Probably go ahead an file an amended return - hate to wait to see if the IRS finds the mistake.

[Cynthiad66]

It is up to you to go ahead and file an amended return, but not necessary since the amount does not change.  Filing an amended return adds to the confusion.  IRS is about the correct tax and if the amount does not change then the tax is correct.  Even if they contact you about a correction, they allow you to present information to clear up the item.

@bobp1426