I use TT Classic Deluxe desktop, and keep careful track of the .tax20xx data files that TT loads.
For my 2024 return prep, I am seeking insight into the handling of carryovers, etc., when my 2023 return, e-filed 4.15.24 accepted, is not yet processed (don't even ask why, as, despite two phone calls and two meetings with my local IRS office, nobody can seem to tell me what the hold up is). Further, I found some errors in my 2023 return as filed, and am standing ready with an amended 2023 return to file when the IRS eventually finishes processing my 2023 return. (My research indicates that I should not jump the gun and file my 2023 1040-X until then.)
For 2024 prep: do I ensure that TT is referencing the ORIGINAL 2023 .tax2023 return as filed -- I think this may be the correct approach -- OR do I ensure that, at least as to any corrected carryover items, that my 2024 return references the 2023 return with the corrections I believe are necessary at this time, and that I have entered in my "ready but not filed" amended 2023 .tax2023 file?
I think my preference in preparing 2024 is that, when I encounter items for which my self-discovered corrections to 2023 have an effect , that I NOT perpetuate them in my 2024 return. I am comfortable with using Forms Mode to edit carryover amounts and add Supporting Statements.
Thanks in advance for help with the concept, and with the handling of the TT software for 2024.
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... anyone?
anything we suggest could be wrong because there is no explanation for the IRS holdup. maybe they found or will find something wrong that makes the 2023 return incorrect and that affects 2024. if you file an amended 2023 return and file 2024 with "corrected" numbers, despite the general advice not to file the 1040-x for 2023 until it processed, you may find that you now have to amend 2024.
so your options are 1)to file the amended 2023 return and file 2024 with the corrected numbers
2) file 2024 with the corrected numbers, no amended 2023. then when you get a notice from the IRS that they are changing your 2024 return you can dispute the changes by sending back that notice with a copy of the amended 2023 return. file the 2023 amended once the return is processed. if you do get a notice for 2024 on the 2023 amended copy sent back with the notice write at the top "Previously submitted"
3) wait until the 2023 return is processed then file the 2023 1040-X and your 2024. the problem with this is that the 2023 amended returns can take months to process - can't be e-filed - so you would still get a 2024 correction notice which you would have to dispute. also, Turbotax shuts down e-file of 2024 soon after the 10/15 deadline.
I think I would go with option 2
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