Discussion:1040X necessary for a Home Office carryover?
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Discussion Forum Index --> Basic Tax Questions --> 1040X necessary for a Home Office carryover?
Discussion Forum Index --> Tax Questions --> 1040X necessary for a Home Office carryover?
| 17 March 2009 | |
| Simple question, I think:
I prepared a client's 2007 tax return: a self-employed photographer who took a loss for the year. I filled out the Home Office form, but obviously due to the loss, no Home Office deduction was allowed - it was a carryover. However, after filing the return, I realized I'd made a mistake, and incorrectly calculated the rent (only entered the amount of 1 month's rent). In short, the carryover originally was calculated as $228, but it should actually be $2,360. This year, 2008, the taxpayer made a profit from the business. Do I need to go back and amend the 2007 return to reflect the correct Home Office carryover? | |
| 18 March 2009 | |
| I would as well, otherwise the carryforward from 07 won't match the one you are claiming on 08. When it is my mistake, I normally ammend my returns for free (although I try if possible to prepare them in the off-season). | |
| 18 March 2009 | |
| Thanks to you both.
And in this case, it is only necessary to attach Form 8829 to the 1040X, correct? | |
| March 18, 2009 | |
| Yes, just attach the schedules and forms that changed (not including the 1040). | |
