Amend 2020 Tax Return

Forum|Forum|5 years ago
February 11, 2021
3 replies
5 views

I submitted my 2020 return two days ago. Yesterday I discovered I received the second stimulus payment on January 4, 2021. I did not report that on my return thus my refund was going to be $600 higher. How do I fix this? I'm self employed.

TurboTax Business Windows

xmasbaby0

Level 15

You do not fix it. You cannot change anything on a return in pending or on a return that has been accepted.

We do not know if entering the wrong stimulus amount will delay your refund --- or for how long if it does. The IRS has not offered any guidance yet on how they will handle returns that have incorrect stimulus amounts entered. We all just have to wait and see. You are among many people who were confused and entered incorrect stimulus amounts, or who filed early and then received a check.

**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.**

ghazlettAuthor

Level 2

If you say so. I saw I'm unable to submit the amended return yet. My return was accepted.

DoninGA

Level 15

@ghazlett wrote:

If you say so. I saw I'm unable to submit the amended return yet. My return was accepted.

If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 02/26/2021 (subject to change)