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Amending 2021 540 when the only change would be a capital loss carryover

jblynch
Level 2

I'm amending a series of client returns for years 2020 and 2021 due to client omission of a LTCL in 2020.  The 2021 540 had no liability so the only impact here is through the Fed AGI use of the implied $3K limit on the LTCL.  The filing of a zero-impact X form just because the implied Fed carryover would reduce does not appear to make sense.  Am I correct?  Thanks in advance!  jl

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3 Comments 3
Terry53029
Level 14
Level 14

Here is a link from IRS " should I file an amended return" 

https://www.irs.gov/help/ita/should-i-file-an-amended-return

sjrcpa
Level 15

I would not amend the 540 for that. 

I would note in my workpapers the correct carryover.


Ex-AllStar
jblynch
Level 2

Thanks for responding!