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Forget to include Schedule 1 - how to fix the issue
A friend of mine, with self-employment income did his/her income tax using Turbo Tax. Turbo Tax produced the tax return including Schedule 1. My friend has a Qualified business income deduction. However, the IRS did not allow for that deduction because Schedule 1 was not filed. As a result the IRS is asking for additional money. I believe that either my friend failed to include Schedule 1 or the IRS lost the form. The return was filed by mail. That is, it was a paper return.
Can my friend simply file the Schedule 1 now? I am thinking my friend should file form 1040X and schedule 1. Is that right?
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‎November 24, 2023
4:03 AM