Level 2

Can I file an amended 1040 return for 2021 when the pdf of the 8990 was not attached?

Forum|Forum|3 years ago
April 7, 2023
1 reply
8 views

Since Intuit does not have Form 8990 for the 1040, I had to fill it out manually and then I made a pdf of it and accidentally didn't attach it to the return when I electronically filed it. Can I file an amended return with the 8990 attached? I keep reading that the "election" must be timely filed but can't understand what they are talking about in the instructions.

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sjrcpa

Level 15

Was the interest deduction limited in 2021?

The only election I see on the 8990 is Box 1D regarding CFCs. Probably doesn't apply.

Amending now would not be timely for election purposes.

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

M

MJRAuthor

Level 2

Thank you for your quick response during this busy time. Yes, the excess interest expense from box 13K was limited via 2 K-1s which I listed on Schedule A. I left the rest of the form blank because there would be no calculations. In the future, as you know, each specific K-1 needs to have excess taxable income or excess business interest income to offset it. They total over $10,000 so I thought I'd file an amended return for 2021 and just include Form 8990 that wasn't originally attached to the return. Then I could manually (can't believe we don't have an individual 8990 yet on PS) prepare a 8980 for 2022 and show the prior year carryforward. No excess taxable income or excess business interest income to offset it this year either, so it would be another carryforward. If this would work, I won't forget to attach the pdf this year. What do you think?

sjrcpa

Level 15

No harm in amending 2021 to attach the 8990.

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

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