I need to amend my 2020 tax return. When I go to TurboTax to amend, it tells me the forms aren't ready yet. However on the IRS site, it says we are able to amend electronically. when will TurboTax have the software in place to file an amended 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 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)
If you e-filed your original return, you should be able to e-file the amended return 1040-X.
We expect IRS Form 1040-X (amended return) will be ready, March 25, 2021. Updates to the program are usually pushed in the evening.
You can sign up for email notification and we'll let you know when the most current form is available.