Can I report prior year deductions on this year’s tax return or do I have to file a separate form?

When it comes to tax reporting, timing matters. The IRS requires that deductions and credits be claimed in the tax year they apply. This means if you missed a deduction on last year’s return, you generally cannot simply add it to this year’s return. Instead, the proper way to correct the oversight is by filing an amended return for the prior year.

To report prior year deductions, you will have to complete and file an amended tax return by filing Form 1040X. Essentially this changes your original return to include new information.

Reporting prior year deductions is done by amending your tax return with Form 1040X: Amend U.S. Original Tax Return.

However, you will need to do the following:

• File Form 1040X within three years from the date you filed your original tax return

-or-

• Within two years of the date you paid the tax, whichever is later.
• Make sure you enter the year of the return you are amending on the 1040X

You can e-file your Form 1040X if your original return was e-filed. The primary and spouse Social Security numbers on the amended return must match the ones on the original return.

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