Just a heads up from someone who filed an amended return recently - the IRS is SUPER backed up with processing these. My amended return for 2020 took over 14 months to process. If you're still within your window to amend, file ASAP and expect a long wait. The "Where's My Amended Return" tool on the IRS website didn't update for months even though they had received my paperwork. The good news is that if you're owed a refund, they'll pay interest on it!

Based on what everyone's shared here, it sounds like you're unfortunately past the deadline since you filed your original return on April 15, 2019. The 3-year window closed on April 15, 2022, regardless of the extension you filed but didn't use. However, a few things worth double-checking: 1. Emily mentioned the substantial omission rule - if you're adding income that's more than 25% of what you originally reported, you might have more time 2. Check if you made any tax payments after filing your return - the 2-year rule from payment date might apply 3. If your amendment results in owing MORE tax (not claiming a refund), the IRS will generally accept it at any time I'd strongly recommend getting professional tax advice for your specific situation rather than relying on forum posts. Given the complexity and potential penalties involved, it's worth paying for a consultation with a tax professional or CPA who can review your actual documents and give you definitive guidance. Don't give up just yet - there might be options depending on the specifics of what you're trying to amend!

I'm dealing with a similar situation - made about $12 in gains from Cash App stocks last year and wasn't sure about reporting it. After reading through all these responses, I think I'm going to go ahead and report it just to be safe, even though it's such a tiny amount. One thing I found helpful was logging into Cash App and going to the "Taxes" section under settings - they actually have a downloadable CSV file with all your investment activity that makes it easier to calculate your gains/losses. For anyone in the same boat with small amounts, this might be easier than trying to manually track everything from the activity feed. Thanks everyone for the detailed explanations about the $600 threshold for 1099-Bs - that clears up a lot of confusion I had!

This thread has been super helpful! I'm in a similar situation with about $15 in gains from Cash App stocks. Based on what everyone's shared, it sounds like the safest approach is to report it even though it's below the $600 threshold for getting a 1099-B. One thing I wanted to add - for anyone using TurboTax or similar software, you don't necessarily need to upgrade to the premium version just to report small investment gains. The basic version can handle simple capital gains reporting as long as you have all your numbers calculated. The premium upgrade is mainly needed if you need help with the calculations or have complex investment scenarios. Since Cash App tracks everything in that CSV file that Hiroshi mentioned, you can do the math yourself and just enter the final gain/loss amount in the basic tax software. Saves the upgrade fee which would probably cost more than any tax you'd owe on these small amounts!

Has anyone used the IRS Form 8801 (Credit for Prior Year Minimum Tax) worksheet to calculate this? I think that's where you'd see how much of your prior AMT can be used this year. In my experience, the credit can be limited if your current year regular tax isn't sufficiently higher than your tentative minimum tax.

This is a really common confusion with ISOs and AMT! The key thing to understand is that AMT adjustments are tied to specific shares, not transferable between different ISO exercises. Since you exercised different ISOs in 2022 (which triggered AMT) versus the ones you sold in 2023, you cannot adjust the cost basis of the 2023 sale using the 2022 AMT payment. Each ISO exercise creates its own AMT adjustment that only applies to those specific shares when sold. The AMT credit you're seeing in TurboTax is separate from basis adjustments. This credit can only be used in years when your regular tax exceeds your tentative minimum tax (AMT). If it seems smaller than expected, it's likely because your 2023 tax situation is limiting how much you can use - the unused portion will carry forward to future years. For the tender offer complication, make sure you're reporting the correct cost basis for the shares you actually sold (without any AMT adjustment since those weren't the shares that triggered AMT). The different companies handling the transactions shouldn't affect the tax treatment, but you'll want to ensure you have accurate documentation of your original exercise dates and prices. Consider reviewing Form 8801 to see exactly how your AMT credit is being calculated and limited. The math can be tricky but it will show you why you're only able to use a portion of your available credit this year.

I'm dealing with a similar situation where my tax preparer missed energy credits on my 2023 return. Reading through everyone's experiences here has been really helpful - it sounds like amending for missed energy credits is pretty straightforward and there shouldn't be penalties for claiming something you were entitled to. A few questions for those who've been through this process: When you filed your Form 1040-X, did you need to include copies of your original return or just the corrected forms? Also, has anyone had issues with the IRS questioning the manufacturer certifications during processing, or do they typically just accept them if the documentation is clear? I'm planning to file electronically like some of you mentioned, but I want to make sure I include everything needed to avoid delays. Thanks for sharing your experiences - it's given me confidence to move forward with the amendment!

I went through this exact same situation last year with my energy-efficient windows that my tax preparer completely missed. The frustration is real when you realize you left money on the table! A couple of things that helped me through the amendment process: First, make sure you have all your receipts and that manufacturer certificate showing CEE compliance - sounds like you're already covered there. Second, when you file the 1040-X, be very specific in your explanation about which credit was missed and why you're amending. One thing I wish someone had told me earlier - if H&R Block made the error, you might want to contact them about it too. Some preparers will help with the amendment process or even cover any fees if they acknowledge the mistake was on their end. Worth a shot before you do all the work yourself! The 16-20 week processing time mentioned earlier is pretty accurate based on my experience. I filed my amendment in February and got my refund in June. No penalties, no hassle, just had to be patient. You're definitely doing the right thing by catching this and fixing it!

Mite help to understand WHY basis matters for inherited IRAs. Traditional IRA contributions r usually tax-deductible (pre-tax $$$), so distributions r fully taxable. But if the original owner ever made NON-deductible contributions (after-tax $$$), those amounts shouldnt be taxed again when distributed. The non-deductible portion = "basis". When u inherit, u inherit their basis proportionally. So if 10% of their IRA was basis, 10% of each distribution u take is tax-free.

This is such a helpful thread! I'm dealing with a similar situation with my grandmother's IRA that I inherited last month. Reading through everyone's explanations finally made the "basis" concept click for me. One thing I learned from my tax preparer that might help others: even if you can't find complete documentation about nondeductible contributions, the IRA custodian (like Fidelity, Vanguard, etc.) sometimes has better records than you'd expect. When I called Schwab about my grandmother's account, they were able to pull up contribution records going back 15 years showing which deposits were marked as nondeductible. They couldn't go back to the very beginning of her account from the 1980s, but they had enough info to establish that she'd been making regular nondeductible contributions since 2009 when her income got too high for deductible contributions. This saved me from having to assume everything was taxable. Worth making that call to the custodian before you give up on finding basis information!