Calculation error on form 8615 - Email received

Forum|Forum|4 years ago
January 31, 2022
1 reply
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Hello-

I received an email from Turbo Tax about a calculation error on form 8615 Schedule D on my 2020 1040 tax return. When I updated and amended my return through Turbo Tax it looks like I owe an additional $33 BUT when I completely redo my 2020 tax form 1040 I owe/receive nothing. Should I just complete a 1040X? When I amended my 1040 return only the return was changed there was no 1040X. I am thoroughly confused.

Thanks so much for any help.

Ellen

Cynthiad66

Level 14

Yes. You will need to amend, file form 1040X, your return if you missed information on your return.

If you discover an error after filing your return, you may need to amend your return. The IRS may correct mathematical, clerical errors on a return and may accept returns without certain required forms or schedules. In these instances, there's no need to amend your return. However, do file an amended return if there's a change in your filing status, income, deductions, credits or tax liability. Use Form 1040-X, Amended U.S. Individual Income Tax Return to correct a previously filed Form 1040, Form 1040-SR, Form 1040-A, Form 1040-EZ, Form 1040-NR, Form 1040-NR-EZ, or to change amounts previously adjusted by the IRS.

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kenandellie16Author

Level 2

Thank you so much for your response. Unfortunately, this is all way over my head, so I will have to take the return somewhere to figure out. This seems like a lot of work for a calculation error. Thought it would be easier to correct through Turbo Tax.

Thanks, again

Ellen