Forgot to enter $4k in HOA fee expenses last year. Should I amend or lay low?

[Maggie W.]

For some reason, the $4k in HOA fees I write off every year are not on the 2021 return, as I'm reviewing them and doing 2022. It appears to signify $800 additional taxes out of my pocket for 2021. So which is a bigger red flag: filing 2022 with a big discrepancy between the two years' expenses or amending a prior years' taxes?

[Ryan Gillette]

Maybe HR Block will do it for free if it's their mistake. The 1040X is below if you're curious. You just put a few numbers from your old return on the left side, your updated numbers ( "X" - $4000) on Sch E and updated (lower) tax due off the tax table. Explain the change in the comments. Pop it in the mail.

https://www.irs.gov/pub/irs-pd...