After sending in my tax forms on Tuesday, I realized that I was supposed to subtract only $3000 max for capital losses (on line 13). Idiotically I put my entire loss, which was slightly more. The end result is exactly the same as if I had subtracted only $3000. However, this brain slip did lead to a mistake in the amount owed on my state taxes.
Does this error warrant an ammended return using a form 1040X? Certainly I’m going to have to ammend my state tax return, but I hate to waste federal resources for a small error. I imagine the 1040X is for more serious errors… could anyone advise me on my situation?
Thanks very much.