Year 2021: accidentally filed unsecured loan for 2020

Hi experts,

I had bought my first property last year (2020), and I just realized that I made a mistake of saying the loan was not secure but when in fact it was. So I missed out on a good amount of refund.

Is there a way to reclaim that amount, or that money is long gone?

Thanks in advance.

795

1 Best answer

Expert Alumni

Mar 7, 2022 6:33:55 AM

No, the money is not long gone. You could file a 2020 amended return since the error will change your refund or amount due.

Please see the following instructions to amend your 2020 income tax return: How to amend (change or correct) a return you've already filed.
You may also file a state return if the error changes your refund or amount due. See How do I amend a prior-year state return?

Expert Alumni

Mar 7, 2022 6:33:55 AM

No, the money is not long gone. You could file a 2020 amended return since the error will change your refund or amount due.

Please see the following instructions to amend your 2020 income tax return: How to amend (change or correct) a return you've already filed.
You may also file a state return if the error changes your refund or amount due. See How do I amend a prior-year state return?

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Year 2021: accidentally filed unsecured loan for 2020