Schedule F

[RLymanC]

was files as taxpayers business. Is it permissible to amend and file 2 Sch. F. Both participate.

These returns go back to 2002. Other taxpayer wants SSI and no income shows up.

[Nashville]

Yes, up to

...back as many years as the statute of limitations will allow.

Conventionally, this has been reduced from three years to two, but now in the stimulus program, NOL losses can be taken back as much as five years. I don't know whether the five years carryback applies to all amended returns or not.

I've had farmers do this before, and not only that, but they also want amendments to use pay more SE tax under the "Farm optional method." Increases their monthly SS check.

In recent years, especially for farmers in their 50s or early 60s, I've asked if they want to pay in under the Farm optional method so they won't be coming back for amendments later.