My amended tax return for 2020 was received but not yet processed. How should I file my tax return for 2021?

[eric_c]

My amended tax return for 2020 was received by IRS in Nov 2021 but not yet processed. I expect my 1040x will not get processed before 2021 tax return deadline on 4/18/22. How should I file my tax return for 2021? Should I file my 2021 tax return using the information from my 1040x or the original 1040 filed for 2020 tax year? 

[DoninGA]

You use the 2020 information from the original 2020 tax return that was filed, not the amended 2020 return.

[eric_c]

My amended tax return affected the amount of my capitol loss carry over to the following year and the amount got increased. If I can't use the information from 1040x, then I won't be able to apply the increased capitol loss to this year's tax return. Is this right?  

[DoninGA]

---

@eric_c wrote:

My amended tax return affected the amount of my capitol loss carry over to the following year and the amount got increased. If I can't use the information from 1040x, then I won't be able to apply the increased capitol loss to this year's tax return. Is this right?  

---

Unfortunately you are correct.  You may want to consider filing an extension and hopefully the 2020 amended return will be processed so that you can enter the higher capital loss carryover to the 2021 return.  The extension will give you until October 17, 2022 to file the 2021 return.

[eric_c]

Ok, hopefully my amended return will get processed by then and I would be able to apply the updated capitol loss to my 2021 tax return. Because I thought my future filing will get more complicated if I file based on my original info from 1040 instead of 1040x and later on if my 1040x gets approved, then another amend is needed. Is this assumption correct?

[JohnB5677]

If you file your 2021 return with the corrected information before the 2020 1040X is completely processed you may get an IRS letter requesting additional information, or the 2020 1040X could be completed.  In either case, you would not have to file a 2021 amended return.

I still suggest that you follow @DoninGA advice and file for an extension.