Do I need to amend?

[dtuesday]

My husband received a corrected W2 (W-2c form) because, per his work email, "A discrepancy was identified on your W-2 for the tax year 2023. The Health Savings Account (HSA) contribution made by the employer was not reflected on your W-2 as it should have been.". We have already filed our taxes and received our federal refund, but the state refund is still pending. On his original W2, Box 12, code W was 480.00. The corrected W2-c, now shows Box 12, code W 960.00. I started amending my Federal and CO state return because I thought  I had to if I ever received a W-2c, but it showed no difference in my Federal or State refund or liability (I only had to make that one small change, so hopefully I entered it correctly...). I actually don't even think I need to amend my CO state return if it's just the HSA contribution that was wrong, but I'm not entirely sure? So since there's no difference in my refund/how much I owe, can I cancel both the Federal and CO state Amend?

[DawnC · Accepted solution]

Yes, cancel those amendments.   If the change does not affect your refund or tax due amount, you do not need to file it.  See Do I need to amend?

[dtuesday]

Thank you! I appreciate it!

[BAJJERFAN]

Back in 2020 I e-filed using TurboTax. Being a newbie to e-filing, afterwards I found that I neglected to include a 1099-R for about $2400. I estimate the extra taxes to be less than $300 back then.  Naturally it carried over to the state return.Thus far neither the IRS nor the state have caught the error.

If I decide to amend my returns

#1  is there a fee to file amended returns?

#2  Will the right numbers end up in the right spaces as these amended returns can sometimes be confusing? Will taxable Social Security be recalculated?

#3  How likely is it that I will have to mail in paper returns along with a check rather than debit from a bank account?

#4  We have IP PINS so would I use the ones from 2020 or the current ones?

#5  Is there a statute of limitations for errors like this?

I think that that's it for now.

Thomas

[DawnC]

Amending is necessary when you need to report a tax form you forgot about or received after filing.   Do I need to amend?   For your questions:

1. There is No fee to amend
2. Yes, when TurboTax prepares the 1040X, your taxes are recalculated to account for the changes
3. It is likely you will have to mail your amended returns, but you won't have to include a check - you will be able to pay online or do a direct debit
4. If you are able to e-file, use your current IP PIN - see this TAS Notice
5. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment.

@BAJJERFAN 

[VolvoGirl]

#1 No there shouldn't be a fee

#2  Yes and Yes.  Your taxable Social Security might change.

#3  You will have to mail prior year returns.  Include a check.

#4. Probably not needed since you have to mail it.

#5. You can only amend for a refund fee 3 years.  No time limit if you have a tax due.

How to Amend a prior year

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...