Corrected W2

Forum|Forum|6 years ago
February 9, 2020
3 replies
38 views

I received a corrected W2 for some life insurance my company paid for and they left off entries in box 12b with code M and 12 c with code N however the amounts are

only 1.53 and 0.36 do I really need to send in a corrected form?

ReginaM

Alumni - Intuit

If your change results in a balance due to the IRS, you will need to file an Amended Return (1040X).

You won't be able to amend your tax return until the IRS releases the 1040-X Amendment form for 2019. The IRS estimate for issuing the 1040X form is mid February.

Additionally, make sure that your 2019 return was accepted in TurboTax Online or paper-filed through the mail.

To prepare an amended return through TurboTax, follow these steps:

Sign in to TurboTax.
Scroll down to Your tax return & documents (you may need to select Show), select 2019 and then Amend (change) return.
Select Amend using TurboTax Online.
Carefully follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
When finished, we'll give you instructions for printing and mailing your amended return as amendments can't be e-filed.

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jcl6

Level 2

Do you need to file the amended return if the correction to the W2 results in a small addition to your refund? Can you decide not to file the amended return because the effort to do so will greatly exceed the benefit to you?

DMarkM1

Alumni - Intuit

No if the tax liability goes down (larger refund) then it is up to you to decide if you want to file or not for that refund. You have 3 years after your filing deadline to file an amendment for a refund.

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