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Amended return results in different payments on 1040x and 1040

I have to amend a prior return which has resulted in taxes owed.  The amended 1040 is showing a different amount owed from 1040X since the prior return had an overpayment applied to next year. Turbotax is subtracting the prior overpayment from the tax owed and adding an underpayment penalty on the 1040. How should I fix the 1040 (or not fix it)? Should I change the amount applied towards next year return on the 1040?
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1 Reply
ThomasM125
Expert Alumni

Amended return results in different payments on 1040x and 1040

I think you are concerned about your 2023 return with respect to the overpayment from 2022. If the amended return is processed before your 2023 return is processed, then you need change the overpayment reported from 2022 on your 2023 return to reflect the new amount. If your 2023 return is processed before the 2022 amended return, then you will get credit for the original overpayment. If that happens, you need to change your amended return to indicate that the original refund was not applied to the following year.

 

 

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