Although that sounds like a logical way to do it, I would not do that. Why? Because it takes the IRS FOR FREAKING EVER to process a 1040X. You would have to do the Form 8997 by hand and send it in. You would not be able to do the 1040X with TurboTax because you would need to include the Form 8997.
But proceed with caution if you choose to do that.
