How can you update an amended return into next year's return? (basically redoing the transferring from the previous year)

Here's the use case: I've amended my previous year return (2017) (it was missing a 1099-INT form).

This didn't change the tax net amount, but changed the "Disallowed investment interest expense to be carried forward to 2018".

I already have those numbers imported into my 2018 return. And I have the 2018 return ready.

Is there an option to update the transferred information for the 2018 return (following the amended return)?

Thanks!

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1 Best answer

Level 15

Oct 13, 2019 10:32:22 PM

Do you just need to change that one thing?

You can edit anything that originally transferred into your 2018 return, if necessary, if it needs updating/correcting since you changed something in your 2017 return.

Are you asking how to get back to the investment interest expense topic in order to edit carryover figures that transferred in from 2017? If so, once you are back in that topic, you will see an option to edit any 2017 investment interest expense carryover figures. We can tell you how to get there. Are you using Online TurboTax or the desktop software (CD/download)?

Level 15

Oct 13, 2019 10:29:59 PM

Sorry no. You can only transfer 1 time before you start 2018. If you want to transfer from the Amended return you would have to clear your return and start over or start a new return if you are using the Desktop program.

if you are using the Online version and want to clear and start over to transfer I can tell you how.

Level 15

Oct 13, 2019 10:32:22 PM

Do you just need to change that one thing?

You can edit anything that originally transferred into your 2018 return, if necessary, if it needs updating/correcting since you changed something in your 2017 return.

Level 2

Oct 14, 2019 8:24:36 PM

Yes, that's the only thing I need to edit.

I figured out there was no way to "re-transfer" (using Desktop version), so I searched for form 4952 and edited the numbers on the 2018 return based on the amended 2017 return (under "I have 2017 investment interest expense carryovers").

Thanks for your help!

Level 2

Oct 14, 2019 8:29:01 PM

Thanks for confirming that can't be redone.

Using the desktop version. Solved on how to do. See my other reply here @mesquitebean

Level 15

Oct 14, 2019 9:41:25 PM

You're welcome. I'm glad you were able to get to the place to edit the transferred in 2017 investment interest expense carryover. Good luck.

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How can you update an amended return into next year's return? (basically redoing the transferring from the previous year)