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I forgot to include some items for write offs on last years return. I think I need to amend my return, correct?

I bought these items for a different job that I didn't work at last year. So would I have to get a private contractor form to file taxes?
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Accepted Solutions
MarilynG1
Employee Tax Expert

I forgot to include some items for write offs on last years return. I think I need to amend my return, correct?

Yes, you can claim equipment you purchased to use for your business.  You'll be asked the type of asset, price you paid, when you first started using it for business, etc. and you have several options for claiming the expense.

 

You probably paid TurboTax extra to upgrade from a regular tax return to the 'self-employed' product, which suited your business. 

 

If you are still using the assets for your business, you can add them to this year's return.  If you no longer have business income, you could go back to the year you used them and Amend your Return to include them.  

 

 

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3 Replies
MarilynG1
Employee Tax Expert

I forgot to include some items for write offs on last years return. I think I need to amend my return, correct?

If you had expenses for a W-2 job, these are no longer deductible.

 

If you were self-employed, you could amend your return to report these expenses.  You don't need a special form to report this; Self Employment Income/Expenses are reported on Schedule C in your personal tax return. 

 

However, if you never started the business, the expenses are not deductible.

 

Here's info on Startup Costs you may find helpful. 

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I forgot to include some items for write offs on last years return. I think I need to amend my return, correct?

I remember one year that I was "self-employed" that I had to pay Turbo Tax extra in order to file my taxes for that job, do I not do that then?

And I am not savvy with the technical terms of taxes, but I am was a private contractor a couple years ago for this guy that owned his own business.

 

Last year, I bought a ton of gear for that business (which I wasn't working at last year, but was working at the year before last year). So am I still able to include the thousands of dollars I spent on my gear? It was for the job...Do you think I should just include it in this years return? I have the receipts...

 

I hate taxes, but thanks if you can help me.

MarilynG1
Employee Tax Expert

I forgot to include some items for write offs on last years return. I think I need to amend my return, correct?

Yes, you can claim equipment you purchased to use for your business.  You'll be asked the type of asset, price you paid, when you first started using it for business, etc. and you have several options for claiming the expense.

 

You probably paid TurboTax extra to upgrade from a regular tax return to the 'self-employed' product, which suited your business. 

 

If you are still using the assets for your business, you can add them to this year's return.  If you no longer have business income, you could go back to the year you used them and Amend your Return to include them.  

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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