Admend taxes 2020

[rjs]

Do you mean that you want to amend your 2019 tax return, that you filed in 2020? You will file your 2020 tax return after the end of 2020. Go to the following link for instructions to amend a 2019 tax return that you filed with TurboTax Online.

How do I amend my 2019 TurboTax Online return?

An amended return has to be filed on a special form, Form 1040-X. It cannot be e-filed. You have to print it, sign it, and file it by mail. It normally takes the IRS up to 16 weeks to process an amended return. However, the IRS is currently not processing mailed tax returns because of the Covid-19 pandemic. When they start to process them again they will have reduced staff and a big backlog, so it will be a long time before your amended return is processed.

Don't file the amended return until your first return has been accepted and you have received the original refund.

If you will owe additional tax, or will have to pay back part of your refund, you should file the amended return before July 15, 2020 to avoid possible penalties and interest.

[VolvoGirl]

Do you need to amend your 2019 return you file this year?  How to amend

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-... 

[jhampton3]

Turbo tax is not letting me amend my 2020 taxes.  It was accepted and I got my refund??

[VolvoGirl]

The amended return won't be ready until the end of March.  You have to wait.

[Scotthroofer]

How do I admend my 2020 filed taxes via Turbo Tax. I included taxes taken out of my Unemployment. The IRS said not to admend-that they would do it automatically, but it is now Jan of 2022. Thanks for you help and responce. Scott R H  [email address removed]

[Critter-3]

The IRS still has not completed all the returns it needed to do so amending is still not recommended.   And look at your return ... did you already get back all the withheld taxes on the original return ?

1) You will get an additional federal income tax refund for the unemployment exclusion if all of the following are true.

• You reported unemployment benefits as income on your 2020 tax return, on Schedule 1 line 7.
• You did not get the unemployment exclusion on the 2020 tax return that you filed. The unemployment exclusion would appear as a negative amount on Schedule 1 line 8, with the abbreviation UCE on the dotted line to the left of the amount.
• Your tax on Form 1040 line 16 is not zero.
• Your Adjusted Gross Income (AGI), not including unemployment, is less than $150,000.

If all four of those conditions are true, The IRS will recalculate your tax return and send you an additional refund.

The IRS is still sending out refunds for the unemployment exclusion. They expect to continue through the summer. Summer ends September 22. Of course, that was just an estimate. It could end up taking longer than they expected. There is no way to tell when you will get your refund.

2) DO NOT amend your tax return. The IRS has clearly said that you should not amend unless the exclusion makes you eligible for a new credit that is not already on your tax return.

3) TurboTax does not get any information from the IRS about your additional refund for the unemployment exclusion. If you open your tax return in TurboTax you might see that TurboTax has recalculated the return to include the unemployment exclusion. But that has nothing to do with what the IRS is doing. It’s just a calculation that TurboTax makes.

Form 1040 lines 25b and 25d have nothing to do with the refund for the unemployment exclusion.

For more information see the following IRS announcements and FAQ.

IRS to recalculate taxes on unemployment benefits; refunds to start in May

IRS begins correcting tax returns for unemployment compensation income exclusion

IRS continues unemployment compensation adjustments, prepares another 1.5 million refunds

2020 Unemployment Compensation Exclusion FAQs