Question

Can I amend a prior year's taxes if I noticed I used wrong numbers to calculate a home business?

Forum|Forum|4 years ago
March 26, 2022
2 replies
0 views

I noticed that the hours used for business was grossly miscalculated (168 hrs reported versus 2300 hrs used).

TurboTax Self Employed Online

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ee-ea

Employee

You an correct the return by amending.

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-filed/00/25588

LeonardS

From your post, it appears that you are self-employed. Self-employed individuals can not take a deduction for their time spent in the business. If you took a deduction for your time then you will have to file an amended return.

This TurboTax link https://How to amend (change or correct) a return you've already filed has information on amending prior years tax returns.

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C

christopherjmillAuthor

This question is in regards to Form 8829 Expenses for Business Use of Your Home, worksheet.

Part 1, Line 6.

I erroneously entered 168 hours of usage when it should have been 2300 hours. I believe this would change the amount I paid in taxes quite a bit less.

My question is, can I file an amended tax return based on this error?

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ErnieS0

Hours are used for daycare providers @christopherjmill so I'm assuming that is your business.

The IRS says:

If the use of part of your home as a daycare facility is regular, but not exclusive, you must figure the percentage of time that part of your home is used for daycare. A room that is available for use throughout each business day and that you regularly use in your business is considered to be used for daycare throughout each business day. You do not have to keep records to show the specific hours the area was used for business. You can use the area occasionally for personal reasons. However, a room you use only occasionally for business does not qualify for the deduction.

Daycare Facility

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