Should I file 2018 prior to 2017?

[Anonymous · Accepted solution]

and you need to wait until 2017 is processed if there are any carryforward amounts.  if you don't, the IRS is likely to deny them.  if there are none, i would still wait a week or two (if you owe, make payment immediately using IRS website and be sure to print receipt).   if you efile for 2018 use 0 for 2017 AGI.  and if you made payment make sure to enter in TT for 2018. TT does not pick up payments automatically.  if you are due a refund (based on tomely payments) there will be no penalties. if you owe, the penalty is 5% of amount owing for each month it is late  a month starts on the 15th so  pay now and before 5/15 penalty 5% pay 5/16 and penalty 10%

[tz]

Thanks for your response!

[Critter]

You can BUT if there will be anything to carry forward (like depreciation) then doing them in order is easier .