I already filed my 2022 taxes and then got a corrected w2 recently after I repaid a bonus I received during the 2022 year. The new w2 has my social security wages and medicare wages corrected (subtracting the bonus I repaid). Since I filed my original return with the first w2 that included my bonus I didnt qualify for the EIC, with my corrected w2 I should qualify for it. Can I amend my return to claim the EIC with the corrected w2?
Also, my employer only corrected boxes 3,4,5,6 (ss wages, medicare wages etc) on my w2 not box 1 (wages, tips and other compensation) shouldn't box one have been corrected to reflect the bonus I repaid?
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Yes, if the bonus was repaid in 2022, the corrected W-2 should report the lower wages in Box 1.
It isn't helpful to correct the reporting of the taxes withheld if the amount of income they were withheld on hasn't changed.
You can amend your return, but without the correction made in Box 1, TurboTax will bring up an error.
You could try entering the W-2 with the correct amount in Box 1. It would be best to have the former employer correct Box 1 on the W-2 if the original W-2 was incorrect.
Need to amend my 2022 federal returns
@bulendebra wrote:
Need to amend my 2022 federal returns
You will have to wait for the IRS to either Accept or Reject your filed federal tax return.
If the return is rejected you can make the necessary changes and e-file again.
If the return is accepted you will have to amend your original tax return. An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 20 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 for amending a tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...
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