Importing 2020 Tax Return

[Andrewtabor]

Patricia:

That worked. I´m embarrassed I didn´t look at that myself. I have no idea how those boxes were checked, and why for 4 out of 5 members. Thanks again for all of your help.

Regards,

Andrew 

[Critter-3]

I just saw this thread and was going to mention the same thing ... have those members look at the K-1 form they got from last year ... was the FINAL box marked ?   If so this may have had an impact on their personal returns so they may need to review them.  

[Andrewtabor]

Thank you for the reply. I don´t think it will effect their personal return because I doubt they would have reported it as the final K-1. Do you think I need to file an amended return for the partnership (1065) with new K-1´s ?

[RobertB4444]

@Andrewtabor  Probably not. 

If changing the K-1's didn't effect any of the numbers on the K-1s then you definitely do not. 

There are suspended losses that are only available in the final year of a business and if any of your partners had those on their K-1's you will have to amend the return and they may have to amend their personal returns. 

If the numbers didn't change then don't amend the 2020 return for this - do double check to make sure that none of them are marked 'final' for this year.  It is possible (however unlikely) that you will receive a letter from the IRS about this.  Just tell them the boxes were checked in error and you're done.

[varunagrawal]

I see two .tax2020 files from last year in my folder. One starts with ~ and another does not. Which .tax2020 file do I import into Turbotax 2021? 

[VolvoGirl]

Either one.   But try the one without the~ sign on it.  The ~ file is a temporary backup file in case your real file gets corrupted or lost.  

[quincyhe1]

I used turbo tax to to file my tax. And I tried to transfer the tax return from last year. I have tried import a PDF as well as transfer tax, however, neither is successful. Could you advise what to do? I have multiple rental properties, therefore, it is important if I could transfer the document.

[VolvoGirl]

Here's an idea.  Do you still have 2020 installed?  Try opening 2020 program and see if you can get your 2020 return to show up in it.  Go to FILE - OPEN.  Then save it again with a name and place you can find.  Go to File - Save As.

[ColoradoZ28]

I understand the correct time to import last year's tax return is when starting a new tax return for this year.   Is there a way to do this after the fact?   When I started this year's return I did not have access to last year's file.   I've mostly completed this year's tax return but now want to bring in last year's return for comparison purposes and also to bring in capital gain losses.

[VolvoGirl]

Sorry no.  No way.  Only by starting a new return.  You can enter the Capital Loss Carryover.  

[seano64]

I need to file a return for 2020 I didn't file in 2021 asI knew I would need the money this year I have all my W-2's and the numbers from my 10-99 I just need to file.

[DoninGA]

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@seano64 wrote:

I need to file a return for 2020 I didn't file in 2021 asI knew I would need the money this year I have all my W-2's and the numbers from my 10-99 I just need to file.

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To complete and file a 2020 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2020 desktop editions from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/

A 2020 tax return can only be printed and mailed, it cannot be e-filed.