I need to file amended tax return (1040X) for tax year 2020. Am I still in the three-year time limit to do so?
The IRS extended the natural (4/15) due date to 5/17/2021 due to COVID. I filed for automatic extension and submitted my 1040 on 10/13/2021. I filed an amended return on 7/10/2023 with a mix of increases and decreases in taxes due, netting to an additional refund check from the IRS. Is the three-year time limit for amended returns from the 5/17/2021 date or the 10/13/2021 since that is when I actually filed my return?
I need to file another amended return for two reasons: (1) reduce dividend income due to updated 1099-DIV from broker not seen until now; and (2) additional business bad debt expense on Schedule C for business loan made to client in 2016 that was never repaid. I would like to amend 2020 as the year with collection efforts and the year when other related bad debt was written off. However, if the IRS rejects my additional 2020 1040X, I don't want to forego the ability to claim this bad debt expense in a subsequent year.
Thank you, in advance, for your help.
