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tonyjmak
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What if there is no capital loss or gain on the sale of personal hunting property, do I need to file and amended form since this was not claimed on our taxes?

 
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What if there is no capital loss or gain on the sale of personal hunting property, do I need to file and amended form since this was not claimed on our taxes?

An asset sale must be included on your tax return even though it may not change the tax owed or refund amount. 

If your return is rejected by the IRS, you can correct the problem and fix the reason for rejection and re-efile your return. If your return is accepted by the IRS, you must prepare, print, sign and mail an amended tax return form 1040X to correct the problem. 

DO NOT change your original tax return until you start the amended return. If you have already changed it from the way it was originally filed and accepted, you must change it back before you start the amended return. Wait until you receive the refund from your original return before beginning your amended return to make sure you enter the correct amount. An amended return cannot be efiled. Here is an FAQ to help you:                                                                  

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed


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What if there is no capital loss or gain on the sale of personal hunting property, do I need to file and amended form since this was not claimed on our taxes?

An asset sale must be included on your tax return even though it may not change the tax owed or refund amount. 

If your return is rejected by the IRS, you can correct the problem and fix the reason for rejection and re-efile your return. If your return is accepted by the IRS, you must prepare, print, sign and mail an amended tax return form 1040X to correct the problem. 

DO NOT change your original tax return until you start the amended return. If you have already changed it from the way it was originally filed and accepted, you must change it back before you start the amended return. Wait until you receive the refund from your original return before beginning your amended return to make sure you enter the correct amount. An amended return cannot be efiled. Here is an FAQ to help you:                                                                  

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed


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