Should I file my federal tax return based on already-filed tax forms or amended tax forms?

[WayneM]

I just found a mistake (1040 Schedule D) on my 2018 federal tax return which will affect my 2019 tax filing. I need to file an amended federal return at this time point but it probably takes months before it gets corrected. If I also want to file my 2019 tax return at the same time, should I file it based on the amended version or the wrong version which has been accepted by IRS last year. Or should I even wait till the amended version gets accepted before I file my 2019 tax return? Thank you.

[VictoriaD75]

You will need to base your 2019 return on your 2018 amended filing. If you have carryover losses from Schedule D, this may impact your 2019 tax return. It is best practice to have the 2018 amended return accepted by the IRS prior to filing your 2019 tax return.

[WayneM]

Thank you so much for your answers @VictoriaD75 . I have a follow-up question on my case. There is no change on the actual federal taxes for 2018 and 2019 no matter I amend my 2018 tax filing or not because of the 3,000 upper limit on the capital loss you can claim each year. The carryover losses may only impact my 2020 tax filling or even later

If this is the case, can I finish the tax filing and amendment in the following order:

1. file my 2019 federal tax based on the already-filed tax forms (My federal tax will not change no matter it is based on the wrong tax forms or amended forms)

2. amend my 2018 federal tax files. (There is no extra refund or tax and only the capital loss carryover will change)

3. amend my 2019 federal tax files after the 2018 amendment gets accepted. (There is no extra refund or tax and only the capital loss carryover will change) 

[JohnW222 · Accepted solution]

As VictoriaD75 indicates above, the best practice would be to have your 2018 amended return accepted by the IRS before filing your 2019 tax return.

However, since carryover amounts from 2018 won’t affect the bottom line of your 2019 refund, the order that you’re suggesting should be fine.

[gregfrey2023]

I do not need to amend my 2018 filing. I need to to file my 2019 taxes. Turbo Tax is telling me there is a form or forms that I need to file. When will they be ready?

[CarissaM]

Please click here to check on the availability of forms.