Found $100K doing an amendment

Just finished amending a 2024 return for a client who sold his practice and ended up with about an additional $100K refund. I originally went in just to clean up basis and the balance sheet, but it turned out the sale was processed incorrectly (the federal vs. state depreciation differences weren’t handled right and AMT/NIIT was way over-applied.

Once I fixed how everything was classified based on the actual deal, the numbers shifted a lot. Just basically inputting the right numbers into the right fields. If you’ve sold a business and facing a big tax liability, always get a second opinion.