Which file to transfer

Forum|Forum|4 years ago
November 13, 2021
4 replies
26 views

For my 2020 clients that I efiled prior to the unemployment exclusion, I had locked them. I then saved them and used that file to file amended state returns. The second files have federal returns which were never efiled, but corrected for the unemployment exclusion by the IRS and refunds issued. The two federal returns have different AGI's, of course, so I wonder which to transfer to the 2021 year?

ProSeries Professional

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T

TaxGuyBill

1) Don't transfer until at least January.

2) Transfer the file that has the most correct, up-to-date information.

D

don49Author

Level 2

My concern is that the IRS and the state uses the most recent AGI as part of a security check. So the AGI changed after the IRS made the change for the unemployment exclusion. This new AGI is not part of an efile or an amended return.

T

TaxGuyBill

I mistakenly thought your amended returns used the corrected numbers. I'm sorry about that misunderstanding.

Ideally, transfer a file that has the ACTUAL numbers that the IRS finally ended up with.

However, in most cases, it won't matter. It really only would affect if the changed AGI affected any carryover numbers.

As far as your comment about the most recent AGI for security check, are you using ProSeries? I don't think the prior-year AGI method is even an option for tax professionals, is it?

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