Adjustment(s) Amending Tax returns

Forum|Forum|1 year ago
August 6, 2025
7 replies
73 views

Greetings,

When Amending Tax returns, how do I know if any previous year(s) have any bearing on the proceeding year(s)? Example: If I Amend 2021,2022,2023 & 2024 tax years, do I have to adjust the Amounts on the previous year(s) to make the following year(s) calculation(s) come out correctly?

Ask the Experts - Beautiful - Aug 2025

Cindy4 12

Employee Tax Expert

It's a good idea to amend prior years returns in chronological order. Things like Net Operating Losses, Capital Loss Carryovers, certain tax credits, and depreciation could all impact the following years tax returns. As an example: If you have an unused capital loss from 2021, it would carry over to 2022 to either offset capital gains in that year, or if none, $3,000 of it could be used to reduce your taxable income in 2022.

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fellynbalAuthor

Level 4

Thank you.

What happens if by chance I may Amend my tax returns, but if I submit them to the IRS without doing the proper adjustments, Will the IRS do the adjustments for me, do they normally catch those errors if any may apply?

Cindy4 12

Employee Tax Expert

This is very situational and not often the case. The IRS issue various notices depending on the what information is missing or a mis-match with what is showing in their system. This article may help you. However, some carry over information is not reported directly to the IRS and tracked only within your own records or worksheets produced within TurboTax year over year.

Hope this helps!

Cindy

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