Can I amend 2020 taxes to included investment loss carryover from 2019? I filed 2020 taxes before amending 2019. How do I report it on 2020 amendment?

[esposito44]

There was no change on 2019 amendment, but I filed it specifically to carryover the loss to 2020.  However, I had to file my 2020 taxes before the amendment was accepted, due to long delays at the IRS.

[VolvoGirl]

Yes you amend 2020. You don't have to file it if there is no change.  But will give you the right carryover to 2021.

[esposito44]

Thank you for your response.  What do I claim as my purpose for amendment of 2020 taxes?  Don't I have to change or add something in order to do an amendment to 2020?

[VolvoGirl · Accepted solution]

Well you have to enter the new carryover loss from the 2019 amended return.   It probably won't change your 2020 return unless you have 2020 gains you can offset.  Just say to change investments.

[esposito44]

Thanks for your great advice!

[esposito44]

Hi Volvogirl,

I amended the 2020 return as we discussed.  I want to be very sure that I don't have to mail in my 2020 amendment and return to the IRS.  Please help me know for sure that this isn't necessary.  Is there a statemen on the IRS website, or did you discover this by experience or on advisement from someone?  Are you a tax professional?  I want to make sure I do everything correctly.

Thanks,

Linda