1040X calculations seem different than my original filing for 2024

[dougiedd]

I filed the wrong W2 for 2024 by paper. Now i want to file a 1040X to amend my return with the correct 2024 W2.

But when i went into my Desktop Turbotax to print out the 1040x the amounts have changed..

Instead of a 300$ refund it is now $422.

the differences appear to be due to changes  in the tax l;iability for 2024. But i did not amend my return otherwise....

Advice?

[VolvoGirl]

You will still get the refund from the first original return or still need to pay the first tax due.  In fact you should not even amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.  

Then the amended 1040X return is only for the difference you get back or owe.  I think the cover sheet shows what the original return WOULD have been if you did it right the first time.  Ignore the new 1040 that might print out.

Go by the actual 1040X.  Line 18 should be your original refund amount and line 22 should be your additional refund.  If you paid on your original return it will be on line 16.  If there is an amount owed with the amendment, it will be on line 20.

[dougiedd]

Here is the thing> Line 18 has changed (in my favor by about $50.) THe one i sent in on the due date with an extension is a different amount than the 1040 x that Turbotax desktop is now showing

[VolvoGirl]

Did you start the amended return with the original return?   Maybe you made some changes before you did the amended return.   Try starting over.   Delete the amended return and put your return back to the way it was when you filed.   

Cancel or undo Amended return in the Desktop program

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/cancel-undo-amended-return-tu...

Or just start over again by opening the original .tax2024 file.  You should have saved it and made a copy before you amended so in case you needed to go back.   

[dougiedd]

seems like somehow Turbotax used a different amount I " want refunded " to me than the amount i overpaid.

Not sure what triggered that?

Line 34 is correct in the original BUT line 35a is a lower amount and now that higher amount is correct

[VolvoGirl]

Do you have the difference on line 38?   You can even have a penalty when you have a refund.   Or did it apply the difference to next year on line 36?

[dougiedd]

sorry line 38 in the original shows$72 so that is the estimated tax penalty> why doesnt that appear on 1040x

[dougiedd]

Also Turbotax doesnt make it clear that per the IRS you need to attach the original 1040

[VolvoGirl]

I don’t know how the penalty part works on an amended return.   Someone else will have to post about that.

No you don’t need to attach the original 1040 when you amend.   Did you mail the original return and get the first refund?  Mailed returns take a long time to process.   Was it for the amount on line 35a or did the IRS adjust it for the penalty.   It’s common for the IRS to reduce or increase the penalty.  So don’t amend until you get the first refund and see what the IRS did with the penalty.

You can try going through the penalty section to reduce it.  If Turbo Tax calculates a penalty on 1040 line 38…..You might be able to eliminate it or at least reduce it.  You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you.  It's form 2210.

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

[dougiedd]

thanks

best just to wait i guess since i am changing nothing other than the attached W2 and the Feds have my W2 already anyway i guess