I filed both fed and state last night. Discovered this morning that some capital gains forms are gone and others are comingled other forms. How can I recover?

Forum|Forum|7 years ago
October 9, 2019
2 replies
16 views

Both the fed and state reviews had me make changes in the cap gains area. Taxes were increase about $1.7K. What is the best way to correct the situation.

xmasbaby0

Level 15

You cannot change or add anything on the return that you just e-filed, nor can you stop it. It is too late, just like when you put an envelope in a US mailbox

If you left out a W-2, or a dependent, or a 1099 etc…DO NOT change your return while it is pending. The changes will go nowhere.

Now you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return.

If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund. THEN you can prepare an amended tax return and mail it in. You have to be able to work from that return exactly the way it was when it was e-filed originally. You will need to use a form called a 1040X. You cannot e-file an amended return. They have to be mailed, and it takes at least 2-4 months for the IRS to process an amended return. Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

wm2416Author

Level 2

Thanks, for the refresher! I did a 1040X 12 years ago and really don't remember it well.

The IRS & State both accepted my returns last night, and I'm not sure how to mark when they have processed them since there are no refunds coming in (there will be when the returns are corrected). Maybe just wait a few weeks?

Also, The changes I need to make include making new Capital Gains entries since 3 of 6 forms just disappeared and the remaining 3 have errors that were introduced when the other 3 went away. Therefore, I am assuming that I can remove the remaining 3 and replace all 6 of those forms -- right? I am unsure about how to make any markups on the existing forms.

I'd appreciate any help you see that I need.