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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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I have a question about amending a 1065 return. I reversed a

Customer Question

Hi there. I have a question about amending a 1065 return.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I reversed a asset impairment in 2014 when I should not have done so (assets not all sold). To be clear the tax income was correct but the GAAP income was wrong. Can I or should I amend the return for a book correction?
JA: Is there anything else the Accountant should be aware of?
Customer: no
Submitted: 1 month ago.
Category: Tax
Expert:  Mark Taylor replied 1 month ago.

Hi, my name is Mark. I will be happy to help you with your questions. As long as the tax income is correct you do not need to amend the tax return.

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