While filing my 2022 tax return I found that I need to report the 1099R (Line 7 P J) to 2021 Tax return.
I opened my 2021 Turbo Tax app - 2021 tax return file - On the top the Federal return is correct refund and after I select "Yes, I've already file my return" and "I need to amend my 2021 return" then click next, the Federal Refund becomes $308. Why doesn't it reflect 0.
On the 1040X original amount of AGI is higher amount then on my original tax return I've filed.
This is my first amend for the 2021 tax return. I've already updated the Turbo Tax to the latest.
Please advise how to fix this.
Ignore the Refund-O-Meter when amending a return as it may not "zero out" ... instead switch to the FORMS mode and review the actual form 1040X.
Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.
If you completed it correctly you will see an entry on either line 16 OR 18:
On line 16 should be the amount you paid with your original return. If you paid nothing already then this line should be zero.
On line 18 should be the amount of your original refund you received. If you have not received your refund yet then you need to wait for it. If the refund changes from what you expected then this line must reflect that change.
Then you will see your extra refund on line 22 OR the new balance due you need to pay on line 20.
Switched to FORMS mode - 1040X Column A is not showing the correct amount of AGI from my original return (it's showing 1605 higher).
Column C shows correct amount for Corrected amount therefore causing column B Net Change to be incorrect.
Line 16 is 0 but Line 18 doesn't reflect the amount I overpaid on my original return. 2021 Tax fund already received last year (2022).
I checked the in step by step - "Your Amended Return Summary" and I can see the 2021 Original return amount, Amended Return and the Net Change all looks correct but why doesn't the 1040X reflect the correct amount?
Change Form 1040-X, line 1 to the correct original adjusted gross income.
Add your original refund in line 18.
Thanks @ErnieS0
I had to start from the beginning again because when I manually change the amount on Column A, some of the total doesn't total correctly. (ie 11 column B)
I re-open the original 2021 tax return to amend then I open Form mode 1040X correct all the below items as the amount on Column A are not the same as from my original return. After update them to the original tax return amount, now the Federal refund shows 0. From here then I add in my 2022 1099R. The 1040X now reflects correctly.
Line 1 - AGI
4b - QBI
6 -Tax
11 - column B Total (didn't total correctly)
A - 18 (original refund)
The California schedule X is also incorrect. "California previous refund or Tax Paid" shows incorrect amount from the refund I received previously. I had to update to the correct amount.
The Amend feature seems buggy in populating values from the original tax return.