Amend 2020 return through Turbotax before filing state

[Nate Ritchie]

I filed my federal 2020 tax return in Feb, but then received a corrected 1099 and will need to amend it. I have not received my refund yet, although Turbotax says that my return was accepted (e-filed). Based on the program, the corrected 1099 will reduce my refund by $3. I have not filed my state return yet. My question has two parts. First, do I need to wait until I receive my refund before filing the amended federal return?

Second, the program says that the IRS has not released the information to do the amended section yet. Can I go ahead and make the changes and then file my state return before I am able to file my amended federal return?

[HelenC12 · Accepted solution]

Yes, you need to wait for the IRS to finish processing your return (you receiving your refund) before sending in your amended return. 

• At this time, you're not able to  amend a 2020 income tax return. As of today, it's estimated that the IRS will finalize the 1040X form on 03/25//2021. However check the forms availability to see any updates to that date. 

Yes, you can add your 1099 form so your state income tax return is correct and you can e-file before you e-file the federal amended return.

• See  How do I e-file my state after I already filed my federal?

Note: Generally, Form 1040-X,  Amended U.S. Individual Income Tax Return, must be filed within three years of the date the original return was filed, or within two years of the date the tax was paid, whichever is later.

[frank kunker]

I have printed and am ready to file a paper return for 2020 but have yet to mail it in with my Checks. I wish to amend my return and then refile it. I want to increase the amount of SEP contribution to reduce tax bill. How do I do this. Thanks

[DMarkM1]

Since you have not filed your returns, you do not need to amend.  Instead, choose the "Add a State" option that allows you back into your return to make changes.  Complete the changes and "download/print" again. 

As a reminder here are the limits for SEP contributions.