How do I know if I owe or if I’m getting money back when doing an amended return?
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Look at the actual 1040X amended return. Line 21 will be a refund and line 20 is a tax due. You will still get the first original full refund (and keep it) or need to pay the first tax due. You should not amend or change your return until you get the refund from the original return or your payment has cleared.
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.
I haven’t submitted it yet so it was a little confusing.
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