Both 2020 and 2021 we are only taking $3000.00 as our capital gains was not enough to offset the large loss carryforward from 2019 and beyond. I was surprised IRS did not pick up the inconsistency in the schedule D from 2019 to 2020. Here are some of my considerations about this whole mess.
1. I called Turbotax when I first found out this problem and was told by your customer service (maybe not a tax expert?) that I should file extension for 2021 and amend 2020 return (per case#[phone number removed]).
2. I heard that IRS does not want amended return if it does not affect the refund or liability, should I write on 2020 1040X "FOR INFORMATION ONLY" when I submit it?
3. If I filed 2021 with what I know as the correct amount of loss carryover (after I corrected 2020) and file the return, how likely will IRS pick up the inconsistency in schedule D from 2020 (before amending) to 2021?
What will your Tax Expert service charge if I turn the whole mess to your department for help? I am a cancer patient since March of 2021, and I am still undergoing therapy. I would like to have some help and not have to deal with the stress.
I really appreciate your quick response and hope to get some more advise if you will.
Thanks,
Mei
