I need to amend 2022 to just simply change accounting type for inventory and I accidentally deleted stuff like home office costs etc. and I don’t remember how exactly it was plugged into the TurboTax UI and I don’t want to amend after things are shifted around the wrong way. I have the premium plan and spoke to a bunch of people today and seemingly no one will help me take my 2022 return and plug it back into TurboTax UI to bring it back to exactly how it was. There is no reset, undo, or restore to default option. This is an absolute nightmare. The last thing I need is a bunch of pointless stuff shifted around on my amended return because I forgot how I entered it through TurboTax’s very specific UI. Any suggestions?
Make a copy of your original tax return file and put it in a safe place before biginning AMEND.
Otherwise, it is a nightmare.
Did you use the Online version? Do you have the Desktop program?
If you used the Online version for a prior year. To get back to the original return you need to download the .tax2022 file and install the Desktop program to open it. Then you can delete the amended return and take out the changes to put it back.
In the Desktop program all you have to do is go to Forms mode and delete the 1040X. Then take the changes out.
How to delete an Amended return in the Desktop program,
I used the online version. I was hoping someone had a trick that would work between online and desktop!
Where would I navigate to in order to download that 2022 tax file for Desktop?
If you used TurboTax Online, you can access it by signing into your account and scrolling down to the bottom of the page to the section titled Your tax returns & documents. Click on 2022 and then Download .tax file (not pdf). You can open the dot tax file with the 2022 Desktop software.
Make sure you are signing in to the same account you used to file the returns. How many TurboTax Accounts do I have?
I don’t see a license key anywhere. I paid $209 for Live Premium + $70 for State and have online done TT Online. Surely I don’t have to pay more money for the desktop version do I?
No. Call in ask for the Desktop program to be put in your account.
How to contact Turbo Tax
https://ttlc.intuit.com/community/using-turbotax/help/how-do-i-contact-turbotax/00/26991
If you click on Amend (change) 2022 return after you download the .tax file, it should give you a link to get the 2022 desktop software.
Is there a way to download my originally filed 2022 return to start from scratch in Desktop? I deleted the 1040X but the information is still fudged up from before and Schedule C is “not done”. I would just copy my filed return 1:1 but not sure that’s possible with just the PDF from the original return.
Yes. As DawnC posted earlier, you can download your prior year ".tax2022" file under Your tax returns & documents on the Tax Home page (scroll to the bottom). Choose the year then click on Download .tax file.
Note that this file will reflect the final version of your tax return. If you amended that year, the tax file will include the amended changes.
PDF or paper copy (or IRS transcript) of your originally filed tax return is required to amend properly.
The Schedule C will show the expenses you deducted. You reenter those the best you can.
IRS will give you paper copy of prior returns for a $43 or $30 fee, depending on which webpage you look at.
It's not clear how long you will wait for it.
I never filed the amended, but I started working on the amended with TT Online. So when I downloaded that .tax file it brought the changes on Schedule C from the file I downloaded. I deleted the 1040X and the changes from Online were still there. Or is there a separate download I can grab of my original filed return that is untouched?
No, as I said above after you delete the 1040X you have to manually take out the changes and put your return back to the way it was when you originally filed it. If you don't remember what you changed you will have to look at a copy of your real return to see what is different now. Then when each line is the same as you originally filed you can amend. You can use the Forms mode to put your return back.
Thanks. I was doing this until I noticed on Desktop it had a 8995A and my actual return had an 8995 so that’s confusing me now. My original return has a simplified version and the Desktop version has the smart version under schedule C and I can’t figure out how to translate from the original.
Do you have a copy of the original return you are working with? Is your QBI deduction on Line 13 the same? Your taxable income determines when you have to use 8995-A.
Form 8995 is the simplified form and is used if all of the following are true:
Yes I have the original return. The original return uses simplified 8995 and the TT Desktop Forms is using smart worksheet and it’s tied to Schedule C. The difference between the two is beyond my comprehension and I don’t trust myself trying to translate stuff to an amended file and causing what I’m trying to avoid in the first place. Whenever I ask for help from a TurboTax CPA or staff they refuse to help do something like translate my return to TurboTax UI forms. Any way to get the Desktop app to mimic my real return that I was able to download from TurboTax for 2022?
What inventory change did you need to make on the amended return? Did you file Form 3115 for a change in accounting method? Or did you simply change from reporting inventory to expensing your materials and supplies? Some inventory changes require an amended return. Others can be simply reported next year.
That said, if you have installed TurboTax Desktop 2022 on your computer and also downloaded your 2022 TurboTax .tax file, you should be able to open the 2022 tax file using the TurboTax 2022 software.
However, if you have made changes to your 2022 return since it was filed, you will either need to reverse the changes you made or create a new 2022 return based on a hard copy of the return as it was filed with the IRS.
TurboTax Online doesn't keep any history of changes to your return. And you would need to save backups to your own hard drive in order to have incremental tax files that would allow you to walk back to a place before you made changes.
Manual entry of a new 2022 tax return is your best option. You have three years from the original filing date to file an amended return.
It’s for an eBay store and I accidentally used the cost? method that requires the same inventory BOY and EOY and that’s not correct because our inventory always changes on a whim. The values I put were correct but the method is wrong. Someone suggested I go back to 2022 when I started eBay selling and amend 2022, 2023, and 2024 to reflect the changed cost of inventory method. I’m not an accounting specialist or anything so getting me back to my original 2022 filed form is quite the challenge. It has been slightly over 3 years since the 2022 form was files.
If your gross receipts from sales were under $26 million over the last 3 years, you are not required to report inventory. Most small businesses report the purchase of inventory as Merchandise Expense (or Materials/Supplies).
If this applies to you, instead of amending three years of returns, simply report zero ending inventory next year. Report the beginning inventory balance as an expense, either with your other purchases or as a separate line item under Other Miscellaneous Expenses. After that, you don't need to include inventory or Cost of Goods Sold on your return.
This is not a change in accounting method. You have liquidated your inventory so you can expense items as they are purchased.
See IRS Pub 334 Inventories
I have to amend 2024 already because a 1099 was mailed to the incorrect address. Should I do what you’re saying on the amend or wait until 2025? Is there someone who could help me do this change for next year? What you’re saying makes sense but I have no idea how to translate that to my BOY inventory for next year. But the way you are saying to report my inventory in the future sounds exactly like what I should and will be doing moving forward. This would make my life so much easier vs. amending 3 years of filed returns.
I suggest you report the correct inventory on your 2025 tax return.
OR your 2024 tax return if you are amending anyway for some other reason.
Also, what would I write as the “reason” for this? And where it asks for beginning of year and end of year inventory costs, I leave both blank and just enter my inventory under Misc. Expenses/Supplies?
If you plan to make this change in 2025, then on your 2025 return (filed in 2026), you would have a beginning inventory equal to your 2024 ending inventory. Your ending inventory for 2025 would be zero. The difference between the two will be reported as Cost of Goods Sold (an expense).
No explanation is needed to do this. If you need a reason, you have liquidated your inventory. That's why it's zero at the end of the year.
Report all 2025 purchases of merchandise as a business expense (under whatever category you choose). That's all there is to make the change.
If I choose to do this on my amended 2024 return, would the same logic apply? If say my inventory total for that year as an eBay seller was $50,000 and my beginning cost of goods sold was $25,000, I put 0 for EOY and just put the $50,000 in miscellaneous costs/supplies still?