Can I file an amended 2017 return to claim the recently re-instated residential geothermal energy tax credit, or do I need to wait and claim it on my 2018 taxes?

milldavi — Thu, 06 Jun 2019 15:30:22 GMT

We build a home in 2017 and installed a geothermal system.

Yes, you can. But you must wait until your already accept...

Carl — Thu, 06 Jun 2019 15:30:24 GMT

Yes, you can. But you must wait until your already accepted return is processed and you have actually received any refund that may be due. You may also need to wait for the IRS to approve the electronic versions of the forms that will have to be revised for this too. Until the IRS approves those forms in electronic format, TurboTax can't release them. Needless to say I'm sure the IRS is scrambling and all TurboTax can do is wait.

Already E-Filed and Need To Change

If you have already E-filed your tax return and need to make a change for any reason, then you have no choice but to wait until the IRS processes your E-filed return. If the IRS rejects your E-filed return, then you can just make the necessary changes and resubmit it.

If the IRS accepts your E-filed return, then you must WAIT until the IRS has processed your return. If you have a refund due your return is not processed until you have received your refund. If you owe taxes, your refund is not processed until you have paid those taxes and your payment has cleared your financial institution. Once processing is complete, you will need to file an amended return. You cannot e-file an amended return. The IRS says you can’t. You have to print it, sign it (both the 1040 and 1040X) and mail it to the IRS.

If your E-Filed return is pending, and you change anything on your copy of your return, then you are guaranteed to have major issues with correcting or amending it later. So for your own sanity, do not touch anything until it’s time, as clarified above.

An amended return must be printed, signed and mailed. The IRS says so.

If my return is accepted, why do I have to wait for my refund before I can amend it?

Just because the IRS has accepted your return, does not mean that they agree with it. Sometimes, the IRS will “catch” your error (or some other error you don’t know about) and go ahead and correct it for you. You’ll know that when your refund is not what you expected. So you have to wait for the refund. If that happens to you, then you will receive a letter 3-4 weeks after you receive your refund, explaining what was changed, why it was changed, and with instructions on what actions to take if your dispute the change. If you receive such a letter and agree with the changes the IRS made, post in this forum with the details (without including personal information) and we'll try to help you get your copy of the return in agreement with the IRS changes, so you won't have issues importing next year.

BIPARTISAN BUDGET ACT OF 2018 https://ttlc.intuit.com/...

xmasbaby0 — Thu, 06 Jun 2019 15:30:27 GMT

BIPARTISAN BUDGET ACT OF 2018 https://ttlc.intuit.com/questions/4241639

We really do not know how long it might take for the IRS and all of the tax prep software to be changed for this. The changes that must be made are quite complicated. You choices right now are messy—either wait for the changes to take place at the IRS and in the software, or file now and amend later.

topic BIPARTISAN BUDGET ACT OF 2018 https://ttlc.intuit.com/... in After you file

Can I file an amended 2017 return to claim the recently re-instated residential geothermal energy tax credit, or do I need to wait and claim it on my 2018 taxes?

Yes, you can. But you must wait until your already accept...

BIPARTISAN BUDGET ACT OF 2018 https://ttlc.intuit.com/...