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Amended Return is Completed - But confused by the IRS wording

My Amended 2023 Return was 'Adjusted' on April 26 resulting in a refund (for only one of the two amended corrections) that I promptly received on April 30. My amended return was 'Completed' on May 17th but I have yet to receive a refund for the other amended correction.  I kind of thought both corrections resulting in refunds would be added together and refunded in just one refund check but the check I received April 30 was for just one of the two amended corrections. Now that my amended return is 'completed'  I am confused by the IRS wording.  

 

Under 'Completed' the wording says:

We processed your amended return on May 17, 2024. The adjustment on your account resulted in a refund. You should have received your refund and/or a notice if your refund was adjusted to cover past due obligations.

 

I have received a refund for one of the two amended corrections when my return was 'adjusted' back on April 26, but what can I expect for the other correction? My amended return was 'completed' on May 17th and the wording under 'completed' says my account resulted in a refund.  Does that mean I should expect to receive another refund check for the other correction that I haven't received yet? The wording under 'completed' uses the past-tense phrase; 'you should have received your refund... Does this wording refer only to the refund I already received back in April? What about the remaining refund I am due for the other correction I haven't received yet?   

 

How long should I wait to receive  the remaining refund I'm due before just giving-up and accepting I won't ever get a refund check for the other correction?      

 

Thank you for an educated answer     

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Amended Return is Completed - But confused by the IRS wording

@fanfare & @Mike9241 & @VolvoGirl 

 

I’ll tell you what I think would have been both helpful and meaningful. It would not have helped me solve my problem immediately, but it sure would have helped to make me feel better that the same problem I'm facing now won't happen again – as well as making me feel better that the TurboTax community can indeed provide something really helpful and meaningful for TurboTax users.

 

The following is a way for you to help me and to help others that is truly meaningful.   

 

If a so-called ‘expert’ here on the TurboTax community would have said to themselves;

 

You know, this guy has a problem that was clearly caused by a bug or glitch in the TurboTax system. He has even provided proof with a partial image of his actual Schedule D with blanks in place where his capital loss carryover figures should have been auto-filled. I would be troubled by this too if I was him. And, I too would have been confused and upset by having to file a 1040X amendment to get it corrected. And, I’d be looking for a way to get my $661 refund this problem has caused too.

 

So, what can I really do as a TurboTax Community 'expert' to help?

 

I know what I can do about this that would be helpful and meaningful and make him feel better. And, hopefully what I can do makes this problem never happen again. I personally cannot offer him any absolute assurance his problem will be fixed but I most certainly can report it to the responsible people at TurboTax so they can look into it and hopefully fix it.  And, maybe I can even get a case number to give this guy so he can have some reasonable understanding that I’ve provided a degree of help that is truly meaningful!     

 

That @fanfare, is how to make yourself helpful and your actions meaningful! 😁

 

Anything less is simply meaningless! 

 

 

View solution in original post

Amended Return is Completed - But confused by the IRS wording

Well, here's an update on my issue:

 

After a lengthy phone conversation with an obviously very experienced and efficient, 'all-business' IRS agent (and him adding succinct and specific notes on my account) I was told to resubmit my 1040X amended tax return again without any changes being needed - except for me to add a note in the Part ll 'explanation' box. My explanation note explains that my original 1040-SR tax return was completely void (blank lines) of my remaining Capital Loss Carryforward amount - of which $3,000 of that carryforward amount should have been available for my 2023 tax return. This omission resulted in me paying $661 too much tax, for which I am requesting an adjustment resulting in a refund of $661. 

 

According to the IRS agent the omission of my remaining Capital Loss Carryforward amount on my original 1040-SR appeared to have generated the rejection of the adjustment I had requested in my 1040-X amended tax return, which was intended in part to correct this Capital Loss Carryforward issue and to refund $661 the adjustment would provide me.

 

The IRS agent spent numerous minutes throughout the phone call reviewing both my original 1040-SR and my 1040X amended tax return I had mailed in - and I was told by the IRS agent that me re-filing the same 1040-X amended tax return again with no changes - except for my added notes in the Part ll 'explanation' box - (along with the IRS agent's succinct notes he added to my account) should provide the adjustment I'm seeking to use the allowed maximum $3k of my Capital Loss Carryforward, which will result in a $661 refund finally being paid to me.

 

The IRS agent told me the apparent glitch in the TurboTax software that caused the complete omission of my Capital Loss Carryforward on my original 1040-SR tax return was what likely caused this very frustrating problem that has taken many months for me to resolve. He seemed to think that me re-filing my 1040X again with my added explanation, along with his concise notes he added to my account, will finally take care of this matter.

 

I realize that TurboTax offers customers the means to self-prepare their tax return and that it is the responsibility of the taxpayer to review and check the return for accuracy before filing it, however for numerous past years TurboTax has always auto-filled my Capital Loss Carryforward amount on my tax returns and I had reasonable expectations for that to happen again with my 2023 tax return. The TurboTax software glitch that completely neglected to auto-fill my remaining Capital Loss Carryforward on my 2023 tax return has not been a pleasant experience for me. I just hope it doesn't happen again!

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34 Replies

Amended Return is Completed - But confused by the IRS wording

Did you send in 2 Amended returns separately?   And did you wait until the first original return was fully processed and you got the first refund or paid a tax due?  You should have waited for the first amended return to finish before amending the second time.  

 

Or were both corrections on the same amended return?  The amended return will only be the difference you get back or need to pay. You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 21 should be your additional refund. If you paid on your original return it will be on line 16 (but don't include any penalty on 1040 line 38). If there is an amount owed with the amendment, it will be on line 20.

Amended Return is Completed - But confused by the IRS wording

I sent only one amended return with both (two) corrections - one correction resulting in a $452 refund and the other correction resulting in a $661 refund, for a total refund of $1,113.

 

Line 18: $4,047

Line 21: $1,113

Line 16: 0

Line 20: 0

 

I received a refund check for $452 on 4/20/2024

I have yet to receive a refund check I was (still am) expecting for $661.

 

Is the $661 refund just delayed for some reason? How long should I expect to wait before I receive it?

 

Thank you very much for your help and expert advice!  I look forward to your answer to my question.

 

Amended Return is Completed - But confused by the IRS wording

You should get it all in one payment.  Unless the IRS changed your return in which case they will mail you a letter.  What was the second correction for?  Maybe they disallowed it.   Only the IRS can tell you.  

Amended Return is Completed - But confused by the IRS wording

The first correction in which I  received the $452 refund check shortly after my amended return was adjusted was for paying too much tax on interest income. The other correction which I have not received a refund of $661 yet is for not using $3k of my remaining capital loss carryover. 

 

I called the IRS after I received just $452 in the refund check and I got a callback from a West Virginia area code (which I was told by IRS when I left my callback number it would be from WV) - from an IRS rep located California. He was able to actually view my 1040X and understood that I had mistakenly turned-down or rejected using my capital loss carryover when I filed my original return using TurboTax Premier, and that I wanted that mistake corrected with the amended return  along with the interest correction. He wrote a lengthy explanation that was to be attached (electronically) to my 1040X explaining the situation to whoever might handle that portion of my amended return.  He told me that my two corrections would be handled by completely separate departments and that was likely why the two correction refunds were not totaled and refunded to me in one check.  But I'm wondering if maybe they are disallowing my capital loss carryover correction for some reason  (which BTW I have far more than $3k in capital loss carryover remaining). I remain confused by that strange 'past-tense' wording under the 'completed' designation. It makes me question what that even means  because I have (past-tense) received a refund, just not all the refund I'm due.   

 

If only the IRS can tell me what to expect pertaining to the $661 I'm due for the loss carryover correction, how do I go about finding out about it? Just wait it out - and I either receive a refund check for $661 or I never do and the IRS just keeps money that is due me by means of my amended return?  I'd really like to know what to expect with respect to the $661 I'm due for the loss carryover correction, but I don't have a clue how to find out. I was hoping you might could enlighten me...      

Amended Return is Completed - But confused by the IRS wording

Did you attach a Schedule D showing that your carried losses exceeded $3,000?

 

What was Line 7 on your originally filed Form 1040?

 

I'd be surprised  (as you are) if two different departments at IRS had to handle different "reason to amend" and they would be approved separately.

 

@Bob in Plano 

Amended Return is Completed - But confused by the IRS wording

Line 7 was $5 which is for a fractional share.  

 

My letter to the IRS explaining my two corrections included the following information pertaining to the $661 for not applying my $3k loss carryover :

 

I have not received a refund for the other Capital Loss carryover correction, which is explained below:

When I was doing my 2023 Federal tax return using TurboTax I apparently made a mistake and incorrectly selected ‘No’ when asked if I wanted to use $3,000 of my remaining Capital Loss Carryover. My 1040X was intended to amend this Capital Loss Carryover omission along with adjusting the interest income correction.   

By not using the $3,000 maximum Capital Loss Carryover on my 2023 Federal tax return this resulted in me paying $661 too much in Federal tax - which is the reason for my amended 1040X tax return. I expect to receive a refund of $661 to correct this.    

At the time I was working on my 2023 Federal tax return I had $233,898 Capital Loss carryforward to tax year 2023 after filing my 2022 taxes.

By mistake, no Capital Loss Carryover was used for my 2023 Federal tax return which I want corrected/adjusted per my 1040X amended tax return.

The following is my Capital Loss Carryover amounts for the past few years:

2020: $242,910  ($239,898 to be the carryforward amount for 2021)
2021: $239,898  ($236,898 to be the carryforward amount for 2022)
2022: $236,898  ($233,898 to be the carryforward amount for 2023)
2023: $233,898 (After adjusting 2023 Form 1040-SR per 1040X amendment and refunding me $661, there will be $230,893 to be the carryforward amount for tax year 2024)

 

► The IRS rep that returned my phone call saw my previous years carryover amounts and agreed that I had $236,898 for 2023 of which I could use $3k.    

Please forward to me a refund check in the amount of $661 to adjust my 2023 Form 1040-SR.   

 

Amended Return is Completed - But confused by the IRS wording

On my 1040X this is what was on the Schedule D PartII - Long-Term Capital Gains and Losses:


14 Long-term capital loss carryover: ( 233,898. )
15 Net long-term capital gain or (loss): (233,898. )


The above correction reflected a refund of $661 was/is due me when I was working on the 1040X.

Amended Return is Completed - But confused by the IRS wording

If you mailed Form 1040-X and did not attach Schedule D you did not attach the required supporting document.

 

if you e-Filed Form 1040-X, TurboTax includes all forms and Schedules.

==

Regarding your original omission,
as far as I know, there is no user-selectable option to not apply a capital loss carryforward.

Your carryforward will not be depleted if your taxable income is zero; this is automatic.

 

@Bob in Plano 

Amended Return is Completed - But confused by the IRS wording

According to the IRS rep  that called me back he saw on something on my account when he was studying my issue that I had plenty of carryover and acknowledged so. In fact he referenced that in his documentation as I recall. 

 

I guess I'm out of luck getting my $661 refund. As far as I know TurboTax still retains the Capital loss Carryover I have remaining - I'm guessing the last figure that does not have $3k deducted.   

  

So, what do I need to do now to correct this and use $3k or my loss carryover and get my $661 refund? 

Amended Return is Completed - But confused by the IRS wording

When you get the IRS letter, you can respond in writing to dispute the IRS adjustment.

@Bob in Plano 

Amended Return is Completed - But confused by the IRS wording

What causes you to think I'll get a letter from the IRS if my Amended Return is now shown to have been completed?   

Amended Return is Completed - But confused by the IRS wording

As far as I know, IRS always responds to 1040-X with a Letter of Explanation.

 

@Bob in Plano 

Amended Return is Completed - But confused by the IRS wording

How long after the amended return is completed does the explanation letter usually arrive?

Amended Return is Completed - But confused by the IRS wording

"I'm guessing the last figure that does not have $3k deducted."

 

Review your revised 1040 and 1040-X, if it is not deducted, you filed an incorrect amended return, 

@Bob in Plano 

 

"I'm guessing"

Always retiew your tax return for correctness before submitting.

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