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Amending >3yr old return (2016) for income and deductions; will IRS accept the deductions?
Hi all
I am amending my 2016 return. The primary reason is that I failed to report a Traditional --> Roth "backdoor" conversion that had a taxable component (I've already worked it out on 2016 8606). It's clear to me that the IRS wants me to amend to revise up my taxable income and tax due.
However in that year I also had a very large amount of healthcare expenses, large enough to warrant an itemized deduction. Unfortunately I / my accountant back then failed to realize this.
Given it's been more than 3yrs since the original filing, do you think the IRS will accept the revised deduction along with the upward revision to my income? Or will they disallow the revision to deductions?
Thanks!
Topics:
‎April 3, 2021
11:35 AM