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I have a question about amending a 1065 return. I reversed a

Customer Question
Hi there. I have a...
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 year ago.Category: Tax
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Answered in 15 minutes by:
9/2/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,338
Experience: Certified Public Accountant
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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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