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Level 1
March 1, 2022
Question

Deduction

  • March 1, 2022
  • 2 replies
  • 18 views

- Tax credit for energy saving home improvement. Can I deduct expense incurred in 2020 on my 2021 return?

    2 replies

    Mike9241
    Level 15
    Level 15
    March 1, 2022

    if paid in 2020 it's a 2020 item. if paid in 2021 it's a 2021 item.  however if you put tr bill on a credit card in 2020 that you didn't pay until 2021 or may still owe, it goes on 2020

    Mike9241
    ColeenD3
    Alumni - Intuit
    March 1, 2022

    No, if you initially had the expense in 2020, you must amend your 2020 return to include it.

     

    Amending a 2020, 2019, or 2018 state return is very similar to amending a prior-year federal return. Here are some tips:

    • If you're amending a 2020 return you originally prepared in TurboTax Online, you can amend it online by signing in to TurboTax.
    • Be sure to download and install the appropriate state software.
      • For example, to amend your 2018 California return, download and install the 2018 TurboTax California state software.
      • The amendment software that we offer to prior-year TurboTax Online customers includes 1 free state download. Contact us if you need to download additional states that you paid for when you originally filed.
    • TurboTax state programs vary in amendment instructions, but you'll either find the amendment option at the beginning or close to the end.
    • The state program doesn't function as a standalone product. Even if you only need to amend your state return (not the federal), install the federal program for the corresponding tax year.
    • If the change originates on the federal return (for example, you need to add or change your W-2 information), amend your federal return before amending your state. This carries the information over into your state return.