Hello,
I'm facing strange Turbotax behavior when making amend for 2020.
I've found form 1099-MISC(some reward from my bank). I'm starting to create amend, adding this form. After Turbotax asks me did I receive 1st and 2nd stimulus. I received them in 2021 with my tax refund. If I select "YES", it shows me that I owe the same money as federal tax. If I select "NO"(which I think is correct because I received this money only in 2021) it shows me at final review "Line 15 - Refundable credits":
Original return: 0.00
Amended return: stimulus amount;
Net change: stimulus amount; Which is wrong, because I've already received this money.
Could you please help how to correct to file this case?
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If the reward from your bank is small enough that your tax liability is less than $25, you do not need to file the amended form at all. I am thinking that your tax liability may not be changing due to the wording used. Do you believe you should owe more than $25 in tax?
Hi @AmyC ,
Thank you for answer,
No. Box4 of 1099-MISC shows that 24$ already has been withheld to Federal tax. Turbotax estimations: 2$ federal refund to me and I owe my state(CA) 12$.
Turbo Tax is showing a refund of the stimulus amount plus $2? I would normally say that the IRS will figure it out and give you the $2 but, in that chance they send you the stimulus again, you do not want to be hit with interest and penalties over $2. I would not amend.
Thanks, @ZoltanB45 ,
I don't need this refund, I just worry about 12$ that I owe to the state.
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