Level 2

Form 8801 2019 carryover missed on 2020 return, have to amend or can I take it on 2021?

Forum|Forum|4 years ago
April 12, 2022
1 reply
8 views

I have a new client for 2021.

2019 return had Form 8801 with carryover from prior year partially used, balance was to be carried forward to 2020. Tax preparer of 2020 did not include it on tax return. There was no 8801 on 2020 return, and no 6251 on 2020.

Do I have to amend 2020 to claim the prior year credit carryover?

Or can I just input the amount on 2021 Form 8801 Line 19 even tho it says 2020 credit carryforward?

Form 8801 carryover missed

This topic has been closed for replies.

sjrcpa

Level 15

You have to do the calculations to see if it could be used in 2020. If it could, then amend 2020.

If it couldn't, you can put on the 2021 return.

The more I know the more I don’t know.

C

CRaccountingAuthor

Level 2

@sjrcpa thank you. It could have been used on the 2020 return. I wasn't sure if it is required to amend 2020 or if it can just be put on 2021 since prior preparer missed it. Trying to avoid amending 2020 if possible.

Not sure if this credit is like depreciation where if you don't get it in they year you're supposed to you lose it so must amend.

sjrcpa

Level 15

Most things have to be used in the proper year. You can 't just choose where to slap them.

This sounds like an after April 18 project.

The more I know the more I don’t know.

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