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Should I wait for my amendment gets accepted?

I made an error in 2020 tax filing forgetting to report interest payment for my rental property, which will affect my passive loss carry over.

 

Now that I'm filing for 2022, and I want to amend 2020 and 2021 filings. Should I:

1. E-File 2022 assuming numbers for 2020 and 2021 have been correct and mail in 2020 and 2021 amendment on the same day, or
2. E-File 2022 assuming numbers have not been corrected, then amend all three years 2020, 2021 and 2023?

 

The main concern here is I have to mail amendment, and it can take the IRS 16 weeks to process them, if I file the 2022 tax return with the amended numbers, the passive loss carry over will not match previous years before IRS processes my amendment which will come later.

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5 Replies
KrisD15
Expert Alumni

Should I wait for my amendment gets accepted?

I suggest you file the 2022 with the corrected numbers and amend the 2020 2021 returns at the same time. 

You SHOULD be able to E-file the amended returns as well. 

 

Link about E-filing 2020 and 2021 Amended returns 

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Should I wait for my amendment gets accepted?

Thanks, I tried and failed: Turbotax premier CD version tells me "Your signature date must be on or after 01/01/2021 through 12/31/2021" when I tried to sign today's date. Looks like someone had the same issue trying to amend 2019 tax return: https://ttlc.intuit.com/community/after-you-file/discussion/re-what-signature-date-should-i-use-to-e.... However your link does say I should be able to for 2020 and onwards, so not sure what I should do here.

PatriciaV
Expert Alumni

Should I wait for my amendment gets accepted?

Are you certain you have prepared an amended return on Form 1040X? The date range you quoted would apply to the original 2020 return.

 

If you confirm you're using the correct form and continue to see that date range error, you may need to print and mail your amended return.

 

@iversonhw 

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Should I wait for my amendment gets accepted?

Yes I'm certain. So sounds like this could be a bug in turbotax then. Anyways given it's fairly large amount(over 10k) but won't impact any tax number other than passive loss carryover(meaning I won't get refund or have tax due in any of the years for both federal and state), also given the fact that I can only mail the amendment, what do y'all recommend? @KrisD15 do you still recommend option 1?

AmyC
Expert Alumni

Should I wait for my amendment gets accepted?

You should go ahead and file your 2022 return that is correct using the amended information for the prior years. The amended returns take a while to process, even when e=filed.

The amended can only be e-filed if you used Turbo Tax originally. See Can I e-file my federal Form 1040-X amended return?

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