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I had $2-3k of losses on stock investments in 2017 that was unreported. I only had ordinary income (w2) and standard deduction. If I amend, will I get any refund?

The question is really asking will I get more refund than the $50 it costs to upgrade to premiere to file my amendment.

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3 Replies

I had $2-3k of losses on stock investments in 2017 that was unreported. I only had ordinary income (w2) and standard deduction. If I amend, will I get any refund?

Will I get more refund than the $50 it costs to upgrade to premiere for the amendment.  I only have deluxe and it didnt cover investment.

I had $2-3k of losses on stock investments in 2017 that was unreported. I only had ordinary income (w2) and standard deduction. If I amend, will I get any refund?

Nobody can tell you that since it all depends on your particular situation.  Your refund could range from $0 to over $1,000.  That's just the way that taxes work.  Nobody can confidently tell you that a loss of $X is going to result in a refund of $Y.

The IRS probably will be asking about the missing trades at some point, perhaps asking that you pay tax on the entire proceeds of the sale as they may very will not know that the sales were at a loss.  If they do ask, you're going to have to amend anyway.
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Level 15

I had $2-3k of losses on stock investments in 2017 that was unreported. I only had ordinary income (w2) and standard deduction. If I amend, will I get any refund?

More likely than not that you will get some money back.

https://ttlc.intuit.com/replies/3288565


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