I amended my 2023 tax return because I forgot to add a w2. I have never made enough to owe and I know I do not owe, but once I removed the retirement credit TurboTax went from me receiving said amount to owing it? I only received my state so far but can someone explain why it would go from receiving payment to owing irs in the same minute ???
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Yes, it may say that you owe when you amend your return, but if you had a refund the first time you filed, you will still receive that refund.
For example, say you do your return and it says you are getting $2000 back. You go ahead and file. The next day you get another W-2 form. When you amend your return and add it, it now says you owe $300. You are still getting a $1700 refund. You will receive $2000 from the IRS and you need to pay back $300.
I Read not to amend return until you receive refund. Is that true?
I am aware on how that works, what I am saying is I do not owe the IRS at all I simply do not make enough. When I removed the tax credit it was like a glitch (like others have said on this forum) and went from me receiving payment to literally “owing” the same exact amount which makes no sense. I’ve talked to turbotax on phone and they said to just wait until I receive payments from initial returns because there is no way I owe.
When I initially filed it was telling me I was receiving payment with no issue. After I removed their bogus retirement tax credit it went on to tell me now I owe, I would wait till you receive payment but I recommend using something else other than turbo tax to amend. It’s glitchy and still needs work.
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