Amend 2020 Return

[elsato]

I e-filed my 2020 return and owe money. I gave  my bank info to debit the account on 4/15/21. I realized I didn't include the 1098-T form for my son's college and the amount owed is drastically reduced. Will filing an amended return update the amount the IRS will deduct from my bank account? And if the 2020 1040-X isn't available for e-filing until after 4/15/21, will the IRS deposit the difference from the amended return if they already deducted the larger amount?

[MinhT1 · Accepted solution]

Filing an amended return will not change the amount that the IRS will withdraw from your account.

By filing the amended return, you will receive a refund which takes into account the amount you have already paid.

Please be aware that Form 1040X will not be available in TurboTax until March 26, 2021, but once it is available, you will be able to prepare and e-file your amended return.

Please see this TurboTax FAQ for instructions on how to amend your tax return in TurboTax.

[elsato]

Thanks for the update 🙂

[ammccann9]

It is now September and I still get a message in turbo tax that the amended return (for a filed 2020 return) is not available yet.    Do you know when it will be available?

[DoninGA]

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@ammccann9 wrote:

It is now September and I still get a message in turbo tax that the amended return (for a filed 2020 return) is not available yet.    Do you know when it will be available?

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Update your 2020 TurboTax software.

Start the 2020 TurboTax program on your computer.  Click on Online at the top of the desktop program screen.  Click on Check for Updates.

[VolvoGirl]

The 2020 amended regal been ready since February.   Are you using the Desktop program?  Try updating it again.  Are you on Windows or Mac?

For Windows go up to Online-Check for Updates.  Or How to manually update Turbo Tax program for Windows,

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-...

For Mac you need to close and relaunch the program.

[xmasbaby0]

@ammccann9 Are you using the CD/download?   Have you updated your software?  The Form 1040X has been available for months.