Amending a 2021 Return

Forum|Forum|3 years ago
February 21, 2023
1 reply
11 views

As fate would have it --- in doing my 2022 taxes I found a mistake that I made on my 2021 taxes (not in my favor of course -- so I get to pay more money to the government).

My question is I still have Turbo Tax 2021 on my desktop so I did an Amendment to my 2021 return and what I owe.

My question is --- isn't their some type of penalty I am also going to be hit with since it has been over a year. I am so mad -- it was a stupid mistake I accidentally entered 1098 info in two places.

Thank you for any help, advice !!

DavidD66

Level 15

Yes, you will be assessed a penalty and interest on the amount of additional tax you owe. The IRS will calculate it and bill you once they have processed your amended return.

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