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Do I need to start a new return if I amended the previous year's return?
In the course of working on my current (2023) tax return, I realized I needed to amend my prior year's return. I did this after transferring the (pre-amended) prior year return into the current year. I updated the part that I know changed (it had to do with capital gains carryover), but now I'm wondering if a lot more may have changed (for example, AMT and QBI info, as well as the fact that I now have to pay the IRS for the amended return, rather than get a small refund). Should I junk the current year's return, and start all over, using the amended return as the basis, or can I assume that updating the part of the return that I know changed will be sufficient? (And if I do need to start over on the current return, how do I do that?)
March 10, 2024
9:39 AM