Taxpayer bought a business asset in 2007 and started listing it on Form
Should the taxpayer amend his 2009 return before filing his 2010 return, or file 2010 first and amend 2009 later? Taxpayer needs his federal refund for 2010 to pay his state tax, so he doesn't want to do anything that might delay his 2010 refund.
Thanks, Lee
Based on your facts, file both now in the order that you get them completed. BUT, file the amended 2009 and 2010 returns in DIFFERENT envelopes. That should seem obvious if they're going to different addresses but you would be surprised.
I will be e-filing the 2010 original return, while the 2009 amended return will have to go by mail, and I will have both returns completed at approximately the same time (within a couple days of each other). Therefore, if each is filed when completed, I would imagine the IRS would process the 2010 return first. Any problem with that?
Thanks, Lee
Not that I can see in your case.
Technically it shouldn't matter which order you actually file them in. As long as you DO the 09 first as you'll need the carryover info from the asset to correctly calculate and report depreciation on the 2010 return.
I don't see any reason to think that this would/could/should hold up the filing/processing and refund associated with 2010.
Good luck, Gene E. Utterback, EA, RFC, ABA
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