Is there a penalty for filing an amended 2020 tax return in 2025?

I need to show a 1031 real estate exchange that wasn't recorded correctly.

posted

you didn't provide a general idea of what was wrong. if you owe taxes then there would be penalties and interest in addition to the taxes. if there is no change in taxable income. it's more likely you need to file form 3115 for 2024 to correct the probably incorrect depreciation dating back to 2020.