Hi,
I drive for Uber and in the 2018 tax return that was filed last year ( in 2019), the itemized deduction method was used instead of the standard deduction method, in error. The standard deduction gives more $ deductions than the itemized method. Considering this, can the return be revised/amended now and if so, will I get additional refund from the IRS and State (Massachusetts)?
P.S. For the previous years - 2016/2017 standard deduction method was used.
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Did you use Turbo Tax? Turbo Tax automatically gives you the higher amount. How much is on your 2018 line 8? What do you think the amount should be?
You are not confusing the personal Standard Deduction/Itemized Deductions with your Business Self Employment expenses?
Yes you can amend. https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...
Thanks for your response.
Considering that the standard deduction gives more $ deductions than the itemized method, will I get additional refund from the IRS and State (Massachusetts) if I submit the amended return?
Ok... we (and probably you) are confused ... just because the same word standard is used they are not the same thing on a Sch C and a 1040.
If you file a Sch C with the 1040 you get to take all allowable business expenses on the Sch C (which includes taking the standard mileage or actual auto expenses deduction) AND use EITHER the standard or itemized deduction (Sch A) later on the return.
Now if you took the standard MILEAGE rate for your auto expenses on the Sch C and you want to change to the ACTUAL auto expenses then you can amend the return.
And/or if you believe your itemized deductions are better than the standard deduction then that is also a reason to amend the return.
My bad. I am talking about Sch C. I took the actual auto expenses deduction instead of the standard mileage. However, the standard mileage deduction is better than the actual auto expense. Considering this, can the return be revised/amended now and if so, will I get additional refund from the IRS and State (Massachusetts)?
For the previous years - 2016/2017 standard mileage method was used on Sch C.
If this is the first year this auto was placed in service you can choose either method ... so you can amend to make the change. https://ttlc.intuit.com/community/business-expenses/help/can-i-switch-between-the-standard-mileage-r...
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