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Missed QBI deduction for 2018 and need to amend, should I wait to file 2019?

Forum|Forum|6 years ago
March 28, 2020
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I missed my QBI deduction for 2018 somehow, which means a huge difference in my business deductions. I also did not realize I needed to file in several states that I did work on-site in.

I'm going to amend 2018 which will result in a large refund from Fed and my home state as well as several smaller non-resident payments to other states.

I'm trying to figure out what order I need to file these in. If I file 2019 right now and amend 2018 later, will I also need to amend 2019? Do I amend 2018 and adjust the numbers from 2018 on my 2019 taxes?

Thank you!

TurboTax Home & Biz Windows

Best answer by DavidS127

As for waiting for the 2018 amended Form 1040 to process, it "wouldn't hurt", but if your e-filed 2019 is accepted by the IRS the return will be processed. Because you must print and mail your 2018 amended tax return anyway, another option is to print and mail your 2019 tax return with the 2018 amended tax return.

Once that amended 2018 tax return is finished, you can either use that ".tax2018" file to start over on your 2019 tax return, or manually enter any amounts that carry-over to 2019 from 2018. Which is better for you probably depends on the nature and complexity of your particular tax return.

DavidS127

Yes, you should amend your 2018 tax return first, so that any carryforward amounts are properly reported on your 2019 tax return.

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L

lefticusAuthor

Thank you for the response, but how does this work?

Do I file 2018 then wait for it to be accepted or do I file 2018 then immediately file 2019 with the new values?

Do I have to start from scratch on my 2019 return and import the new values?

Can I just update the 2018 values in my 2019 return?

Thank you again

DavidS127Answer

As for waiting for the 2018 amended Form 1040 to process, it "wouldn't hurt", but if your e-filed 2019 is accepted by the IRS the return will be processed. Because you must print and mail your 2018 amended tax return anyway, another option is to print and mail your 2019 tax return with the 2018 amended tax return.

Once that amended 2018 tax return is finished, you can either use that ".tax2018" file to start over on your 2019 tax return, or manually enter any amounts that carry-over to 2019 from 2018. Which is better for you probably depends on the nature and complexity of your particular tax return.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"