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If you are expecting a refund from filing your original return, then it has been fully processed when you receive that refund.  If you paid a balance due, then it has been fully processed once the payment to the IRS has cleared.     @mcs72330 

I have to amend 2024 already because a 1099 was mailed to the incorrect address. Should I do what you’re saying on the amend or wait until 2025? Is there someone who could help me do this change for next year? What you’re saying makes sense but I have no idea how to translate that to my BOY inventory for next year. But the way you are saying to report my inventory in the future sounds exactly like what I should and will be doing moving forward. This would make my life so much easier vs. amending 3 years of filed returns.

Bonjour @TurboImpotLiseD,   Après avoir rempli le formulaire sans entrer de date de disposition, on refuse d'envoyer la déclaration à l'ARC puisque ça génère une erreur. Est-ce normal ?   Je n'ai pas vendu de crypto, donc je n'ai pas de date de disposition. Je veux uniquement entrer les transactions effectuées dans la dernière année.   Merci,  

I bought three acres of property with a house on it.  I sold 1 acre of the property  where the house is on.  I will be selling the remainder of my property in one year.  How do I report the once acre of property.  It was not an investment it was part of my main home.

Yes, expenses for a Senior Adult Day Program run by a local health unit may be tax deductible as a medical expense, particularly if they involve attendant care or care in a facility. To claim them, you'll need to ensure the care provided qualifies as "attendant care" and the attendant is not your spouse or common-law partner. The program itself must be a facility providing care or care and training.    Thank you for choosing TurboTax.

If your gross receipts from sales were under $26 million over the last 3 years, you are not required to report inventory. Most small businesses report the purchase of inventory as Merchandise Expense (or Materials/Supplies).   If this applies to you, instead of amending three years of returns, simply report zero ending inventory next year. Report the beginning inventory balance as an expense, either with your other purchases or as a separate line item under Other Miscellaneous Expenses. After that, you don't need to include inventory or Cost of Goods Sold on your return.   This is not a change in accounting method. You have liquidated your inventory so you can expense items as they are purchased.   See IRS Pub 334 Inventories   @sept031989 

Thank you so much! To confirm: 1) there is no deadline for both federal and state taxes to submit my amendment? 2) the 3 year deadline to receive my refund is also for state taxes? 3) If I filed in Feb-2025, does that mean that I can submit my amendment by Feb-2028? If so, is there a specific month to submit it for both federal and state purposes? 4) If I decide to wait 3 years to submit my amendment to receive my refund, do I submit my tax return next year the regular way? or does having a pending amendment change anything in the tax filing process?

When a married couple files separate returns, if one person uses itemized deductions then they both must use itemized deductions.     To correct this, one of you will need to amend your return so that either both parties are using itemized deductions or the standard deduction.  If you filed your return first, she may be contacted by the IRS regarding using the standard deduction.

Yes.  You will need to Amend Your Return to enter the 1099-SA and the 5498SA.  Prior to clicking the amend button, be sure that your return is original (meaning, if you did not enter any additional information after you filed)  Then you can go through and amend your return once the refund amount or tax due is set back to $0. On the amended return, if you see a tax due, this would include a repayment of a refund (if you received one) that was more than you should have received if your return would have been complete when it was submitted.