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I have a full time W2 job this year. I answered the qualifying

Customer Question
I have a full time...
I have a full time W2 job this year.

I answered the qualifying questions in the real estate section that I am not a real estate professional.

However, in the occupation field in the personal information from last year's carry over information I still had real estate professional.

So the returns went with that occupation under my name but the return is calculated correctly by TT as non real estate professional.

Do I need to submit amended returns to reduce the chance of audit.
Submitted: 4 years ago.Category: Tax
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10/15/2013
Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
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Megan C :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

Megan C :

How are you today?

Megan C :

If your returns were submitted with the correct calculations - that you were NOT a real estate professional, then you are fine. You do not need to submit an amended return to reduce any audit risk.

Megan C :

You generally only need to submit an amended return if you make a change that impacts how much tax you pay.

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16,581
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Customer reply replied 4 years ago
Thx
Tax Professional: Megan C, Certified Public Accountant (CPA) replied 4 years ago
Thanks for your positive rating. Please come back and visit me any time you have a question that needs answered. I work in the tax, finance, and social security department. Thanks again and have a great day!
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Megan C
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