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Form 8885, just got notified I'm eligible for Trade Act Assistance. I have qualifying expenses in a prior tax year (2017). How do I file those? amended return for 2017?

Forum|Forum|7 years ago
June 4, 2019
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Best answer by BillM223

You can elect to take the HCTC only if (a) you were an eligible TAA, ATAA, or RTAA recipient or PBGC payee in 2017. But please read the Special Instructions on page 1 of the Instructions for Form 8885 - in most cases, you have to already be receiving benefits to qualify for this special treatment. https://www.irs.gov/pub/irs-pdf/i8885.pdf

Also read the 2017 IRS page (see "Proof of Eligibility") where you have to have received "[a]n official letter reflecting that you were an eligible individual for the months claimed in 2017". See https://www.irs.gov/credits-deductions/individuals/claiming-2017-hctc

If you pass these eligibility tests, then, yes, you would amend your 2017 return.

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BillM223Answer

You can elect to take the HCTC only if (a) you were an eligible TAA, ATAA, or RTAA recipient or PBGC payee in 2017. But please read the Special Instructions on page 1 of the Instructions for Form 8885 - in most cases, you have to already be receiving benefits to qualify for this special treatment. https://www.irs.gov/pub/irs-pdf/i8885.pdf

Also read the 2017 IRS page (see "Proof of Eligibility") where you have to have received "[a]n official letter reflecting that you were an eligible individual for the months claimed in 2017". See https://www.irs.gov/credits-deductions/individuals/claiming-2017-hctc

If you pass these eligibility tests, then, yes, you would amend your 2017 return.

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dynatone6453Author

Thank you so much! Does this end up being a dollar-for-dollar return (credit)? trying to gauge the effort vs. the $ for doing the amended return. thanks!