When amending a prior year's return, how do carryovers get updated in future years?

[menat]

I've found I've done the Mortgage Interest deduction wrong (had a cash out which was used to buy rental property).  I've just filed amended returns for the past 3 years.   My question here now is how to account for that updated loss that carries over year to year in TurboTax?   I want to make sure 2019 pulls in the right amount.   Is it as simple as updating the carry forward number directly in a form within TurboTax.   (Not done that before, just used the GUI).    I use TurboTax Premier on my Windows computer (CD installed - not online).  Thanks for the help!    

[Critter]

Simple ... just transfer the amended tax file next year when you start the return ... all carryovers should automatically populate however it is still your responsibility to review the entire return for accuracy prior to filing. 

2018 Downloaded to 2019 Downloaded

Do you have the 2018 tax file on your computer?  It ends in .tax2018.  You need that to transfer into 2019.  First thing you do is start a new return and it should find all your 2018 files and ask if you want to transfer them.  

Here's how for Mac:

https://ttlc.intuit.com/questions/1901265-transfer-last-year-s-return-into-turbotax-for-mac

Here's how for Windows:

 https://ttlc.intuit.com/questions/1901506-transfer-last-year-s-return-into-turbotax-for-windows

[menat]

Sorry I must not have been clear.

Just amended 2016 and 2017.   Any TurboTax thing to pick up those correct values when doing 2019?   I did print out a copy of 8582 and have hand calculated what the carryover should be coming into 2019 - it'll be straight forward if I'm allowed in TurboTax to edit that carryover loss amount on the 8582 form after it imports from 2018.   If it doesn't though - how do I do that?

[VolvoGirl]

What about 2018 return?  Do you need to amend that one too?  When you do 2019 next year you can transfer from 2018.  Or actually from the 2018 amended return.  Why won't  2018 be right?

[menat]

2018 I actually amended before doing 2017 and then 2016.   So - they're all wrong 🙂    But I know what that value should be carrying into 2019 -it just isn't going to be right on the import.   Will TurboTax allow me to edit manually that carry forward loss directly?

[VolvoGirl]

Yes you can change it.  But sounds like you need to do a second amended 2018 return since you have the new amount from 2017.  Then you can transfer from the 2nd amended 2018 into 2019.

[dmertz]

When amending 2017 you should have corrected the carryover information in your 2017 tax file by manually carrying over the changes from your 2016 amended tax file.  If you amended 2017 before starting your 2018 tax return you should have then transferred in from the amended 2017 tax file, otherwise you would need to manually carry the changes from the 2017 tax file into your 2018 tax file (amending 2018 if you did not do that before filing your 2018 tax return).  The result will be a correct 2018 tax file to transfer into 2019 TurboTax to begin your 2019 tax return.

If the amendments were otherwise correct without manually carrying over the changes from year to year, you can just make the correction to the incorrect values in 2019 TurboTax after transferring in from your 2018 tax file, or, preferably, you can make the corrections in your 2018 tax file so that it will have the correct information to transfer into 2019 TurboTax.  (I'm not sure I would attempt this with online TurboTax, if that's what you are considering.  You'll want direct access to the worksheets.)