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zpz
Returning Member

Can I refile 2019 and split off sole-prop into it's own schedule C, separate from my main sched C?

Had some gig income that I lumped into my main LLC, but reported it as separate sole-prop income with it's own schedule C on 2020. Is it possible to go back and refile/amend 2019 to make 2019 match up: main LLC and sole-prop income, both with their own schedule C's?
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2 Replies

Can I refile 2019 and split off sole-prop into it's own schedule C, separate from my main sched C?

I guess you could but it wouldn't change your overall tax return.  I wouldn't bother.  Just forget 2019 and do it how you want going forward.  Changing 2019 isn't going to affect the future years.  What do you hope to gain?

zpz
Returning Member

Can I refile 2019 and split off sole-prop into it's own schedule C, separate from my main sched C?

Thanks for the comment, VolvoGirl.

 

Honestly: looking to show that the sole-prop "business" has been in business since I started doing the work (8/2019) for purposes of getting a mortgage. Since it doesn't officially appear on taxes in the form of a schedule C until 2020, and most places won't count self-employed income unless it's been reported or two years, the money I made from that business won't be counted on a mortgage until next year. Looking to get a house this year and if I can refile 2019, split off the sole-prop income into it's own Schedule C, then the taxes reflect the actual situation, bankers are happy and then we can move forward with a mortgage that will actually purchase a house.

 

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