amend a return

[debe02]

I completed my taxes and efiled them around Feb 20th, 2021. They were accepted by the IRS and I have since received my federal payment.  However I have discovered that I made a mistake and have been trying to amend my return.  Turbo tax will not allow me to do this.  I have amended my tax return but now I don't know what to do about it.  Please advise. 

[DW261]

While IRS is now accepting 2020 amended returns, Turbo Tax has not yet updated this feature in their desktop software. When I try to amend a previously e-filed, accepted, and fully processed 2020 return in my Turbo Tax desktop version, I get the message "The Amended Return Area Will Be Ready Soon. You've done a great job starting your taxes early, but the IRS is still working on finishing up the Amended Return area (Form 10-40X) for 2020. That Means this area isn't quite ready yet."  The IRS website has instructions on how to file an amended return for 2020.  About Form 1040-X, Amended U.S. Individual Income Tax Return | Internal Revenue Service (irs.gov)

[debe02]

Well, while I am waiting for the amended form, my son can't submit his taxes because I mistakenly claimed him on mine which is why I need to amend my taxes.  When can we expect to be able to get this taken care of?

[VolvoGirl]

Your son does not have to wait for your Amended return to process.  Since he has to mail his return this year.  Once a ssn has been used you can efile it again even if you amend.

[ptnancy]

When will I be able to amend 2020 tax return 

[DoninGA]

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@ptnancy wrote:

When will I be able to amend 2020 tax return 

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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 03/25/2021 (subject to change)

[David2233]

Are we waiting for the IRS or Intuit?

How hard is this??

[ToddL99]

If you have already filed, then we are waiting on the IRS - they will fix this for you - you do not have to do anything.

If you already filed and did not claim the exemption for unemployment compensation, the IRS will refigure your taxes for you and send any refund that is due.

From the IRS: New Exclusion of up to $10,200 of Unemployment Compensation:  

If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.

[cmlintx]

I have filed 2020 taxes received my refund.  However, I left out income that reduced my refund by $300.  Do I need to file 1040-X or will the IRS correct it automatically?

[DoninGA]

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@cmlintx wrote:

I have filed 2020 taxes received my refund.  However, I left out income that reduced my refund by $300.  Do I need to file 1040-X or will the IRS correct it automatically?

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You will have to file an amended 2020 tax return to make the changes to the original 2020 tax return.

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/01/27439

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/26/2021 (subject to change)

[oilbrnr]

Intuit stated that the 1040X would be available to efile through them 3/25. Is there a new date ? 

[DoninGA]

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@oilbrnr wrote:

Intuit stated that the 1040X would be available to efile through them 3/25. Is there a new date ? 

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Your question was already answered on the post directly above yours.

[sapphrose0907]

When can I amend already files and got return.

[DoninGA]

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@sapphrose0907 wrote:

When can I amend already files and got return.

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See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/01/27439

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/26/2021 (subject to change)

[lo29]

When will I be able to amend my tax return on Turbo Tax?