Deleting deductions in an amended return

[hcgma2020]

Hello,

I filed my taxes on time, but realized I need to remove a deduction for health care premiums and change the amount I deducted for business related moving expenses. I had to pay at filing time and these changes will require me to pay more. 

Two questions:

1) Will these changes trigger an audit? I will be removing a deduction of about $9,200 for health premiums and removing around $2500 for business related moving truck expenses.

2) If I amend I will need to give a reason for each change. What can be said for these changes that won’t trigger an audit? 

Does TurboTax automatically calculate the additional amount due plus the penalties for paying more?

[maglib · Accepted solution]

@hcgma2020   TT will calculate any added amount your may owe  when you do an amended return.

Unless you itemized this may not impact your federal return.  You can not worry about an audit, it is better to fix it today and pay any amounts owed immediately then it is to delay. 

To amend your return, select your product and follow the instructions.  First MAKE SURE TO SAVE YOUR RETURN AS AMENDED so that you DO NOT LOSE THE ORIGINAL FILE.

1. Write down the original refund or balance due amount(s) for your Federal and State, if applicable, income taxes. We recommend you check the paper/PDF copy of your return(s), or your banking records to verify the correct amount.
2. Sign in to the TurboTax account where you prepared your  return. In Tax Home, scroll down to Your tax returns & documents, and choose proper year. If you have not already done so, we recommend that you print a copy of your original  tax return for your records by selecting Download/print return (PDF).
3. Select Amend (change) return and then select Amend Using TurboTax Online.
4. On the OK, let’s get a kickstart on your 202x amended return screen, choose TurboTax sent me an email, then Continue.
5. On the What did we contact you about? screen, choose Something else then Continue.
6. On the Tell us which 202x return(s) you want to amend screen, select the proper year Federal return, then Continue. Your federal refund/balance due tracker will usually reset to $0, this is normal.

Note: If you have a state return, also select 202x state return and go through the state amendment steps.

7. On the Here’s the info for your amended federal return screen, select Done.
8. On the Tell us why you’re amending your return screen, enter TO CORRECT mistaken Medical expenses and moving expense, then Continue.
9. On the Let’s confirm your mailing address screen, confirm your mailing address, then Continue.
10. On the Do you want to designate $3 to a presidential campaign fund? screen, select your answer and then Continue.
11. On the Do any of these less common situations apply to you? Screen, select None of these apply to me, then Continue.
12. On the Let’s confirm your Social Security number and birth date screen, check the information and then Continue.
13. On the Accuracy’s everything. Time for a quick review. screen, select Check my info.
14. On the Your federal return’s in great shape screen, select Continue.
15. If you do not have a state return, skip to step 16.

To amend your state return, go through these steps:

1. On the Let’s get your state taxes done right screen, select Continue.
2. On the Let’s amend your state taxes screen, select Amend next to the state.
3. Continue through the state screens and answer any state specific questions until you reach the Let’s Make Sure You’re Ready to Review screen, select Yes, I’ve entered everything and let’s review. Then Continue.
4. On the Ready to Review Your State Return screen, select Continue.
5. On the Smart Check Results screen, select Continue.

16. On the Smartcheck results screen, select Continue.
17. On the Let’s get your return ready to file screen, select Check my return.
18. On the Just about ready to file. But first… screen, select Continue.
19. On the Let’s take care of these details now screen, select Review and fix any errors.