Amend tax online at turbotaxonline I want to amend my 2020 tax return online. However, before i enter anything it immediately show I owe $ (Federal and CA Tax) Why?

[bohueilin]

I dont understand why TurboTax shows I owe money before I even enter anything?

Can anyone share their amend experience?  Have you seen such problem?

Thanks

[CarissaM]

When you decide to amend, your refund meter will reset to zero. 

Please follow the instructions here to amend your return.  Here is a great FAQ to show the math for amended returns. 

[bohueilin]

Thank you Carissa for sharing the link.

To clarify my case further,  I filed my 2020 Tax Return back in March 2021

Where i owe Tax Due across my Federal, my California State and Massachusetts State return.

All of the tax amount were paid when i filed online (total about $26k.

However, I am not following on why i immediately owe money when i try to amend my tax if my 2020 tax was *NOT refund* but owe tax and paid in full..

Question:  Why do i immediately owe 2020 tax when i try to amend it if my 2020 return had tax due (which paid in full when filed)  

Thank you

[AmyC]

The refund meter makes assumptions and jumps around. Until you enter the taxes you have already paid and gone through the entire amended return process, do not worry about the meter. Once everything is entered, the return should be checked that it is showing amounts already paid on line 16 of the 1040X.

[bohueilin]

Thank you Amy,

I filed my 2020 Tax with the Turbotax online and now I am trying to amend it mainly to due adding rental property appreciation (out-of-state).

1. When i filed it last year i did end-up needing to pay tax (about 16k)

2. Now when i just try to amend 2020 tax with Turbotax online it is immediately shown i owe money (700 federal and 10.5k CA Tax due)

3. Even if i attempted to complete my amend process and save the pdf (amended version to send) the number shown in #2 didnt change much and still showing i owe 10K+ for CA Tax

4. I did verify my 1040-x, line 16, which indicates the correct tax owe amount i did originally pay when filed (#1)

5. Question:  Why am I owing 11K all the sudden when i attempt to amend tax?  Can anyone help me to understand ?

thank you Amy and community

[Critter-3]

Please contact support via phone for assistance with this situation … contact details can be found here

And ignore the refund meter ... it doesn't reflect the amended return... it reflects what the original return would have looked like if it was done correctly ... review the new 1040 that reflects that new information. 

Look at the 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.

[bohueilin]

Thank you so much Critter for the info.

Yes i did verify both and the big pain was specific to my State one.

I found out the issue was mainly due to the fact TT didnt double check the Health Insurance Coverage and defaulting me not having any, thus causing a big penalty accumulated over the 12+ months.

Thank you for the help