I filed my returns Then I received a revised w2. All the figures are the same. What was revised was the letters and breakdown in Box 12a&b were added. Do I need to amend my return?
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Possibly. Can you advise what Box 12 showed before and after this change? This will help us to determine if amending is necessary.
On the previous W2 box 12b & 12c were empty. On the revised W2, they are filled with code M & N.
To amend your 2019 tax return: Wait to see if your return has been accepted or rejected by the IRS or state. If rejected, you can correct and re-send your return. If accepted you should wait until your return has been processed and you receive your refund or conformation that any tax due has been paid. If you file an amended return while you first return is being processed it can cause extended delays for both returns if two returns are in the system at the same time. In addition, if the IRS makes any change on your original return, you might end up having to amend the amendment. Amended returns can only be mailed - allow 8-12 weeks - can take up to 16 weeks (4 months) for processing.
How do I amend my 2019 TurboTax Online return? https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/00/27577
Is it absolutely necessary to amend. Amount of wages received didn't change and dollar amounts for added letters is less than $5ea.
Both returns were accepted. Federal refund already arrived.
Have you tried simply entering the corrected W-2 into TurboTax to see whether your refund would change?
When I enter codes M and N into a W-2 in TurboTax Self-Employed, it generates additional taxable income.
You may need to amend. Please see this TurboTax Help.
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