Filed my taxes for Indiana and Federal already, and after Turbo Tax recent update amounts are wrong, what do I do?

[himar07]

I had to file my taxes for Indiana 04/15, and I actually filed my federal beginning of April.  I am self employed and use the market place, so in my original filing, I had to pay back the advance premium tax credit.   So I owed on both federal and state.   Turbo tax had not updated from the American Rescue Plan.  They updated it after I had filed.  While I still owed for Indiana, it was now showing that I would get a refund on Federal, since I would get back the advance premium tax credit.  My understanding was to not file an amendment and the IRS will adjust it.  However, just went back in there today to look at something and it updated again.  Now my income amounts have increased.   So now I owe state more, and I will get back less of a refund than before on federal.  Basically what happened is that on this most recent update it changed the amount of deduction I get for  self employed health insurance deduction.  I actually never messed with this section turbo tax auto figures, after I put in my 1095 information.  What a mess!!  I am not sure why Turbo Tax did not fix this in the update from the American Rescue Plan.  What do I do, file amendments on both state and federal?  I  still won't owe federal but my deduction is incorrect, and will now show more taxable income.  Same with state more income.  HELP Please, quickly!

[ThomasM125]

The law changed on this after the beginning of the tax filing period for 2020, so some tax filers like yourself saw their tax due or refund amounts change after their tax return was filed.

The taxing authorities are aware of this and will adjust your tax due or refund amounts automatically. So, you can simply wait for a check or invoice in the mail from the federal and state taxing authorities. Since your tax returns were correct when you filed them, you should not be too concerned about complying with the updated tax laws. 

You can pay in the additional state tax due to Indiana if you want by mailing check along with form ES-40:

https://secure.in.gov/dor/files/software_es40.pdf

[Prohealthgram]

I filed a paper return before Indiana changed the laws to reflect the Cares Act revisions on early distribution of 401K, and now want to file my 2021 on Turbo tax online. BUT when TurboTax pulls my paper return pdf into the system it changes my already filed and processed return showing the new tax law revisions which then shows a refund rather than the fact that I paid all the taxes for the distribution rather than spreading them over the 3 years allowed on the federal return?!?!?  This is messing up my 2021 return how do I correct that?

[ErnieS0]

You can change the information in 2021 by going back into Retirement Plans and Social Security @Prohealthgram. Currently this section is not ready in TurboTax.

When it is ready, here's what to do.

1. Type 1099-r in Search in the top right
2. Select Jump to 1099-r
3. On Did you get a 1099-R in 2021? say Yes or No.
4. If you answered Yes, fill out the 1099-R section.
5. Once you are finished you will see Have you ever taken a disaster distribution before 2021? This is what you will see if you answered No,
6. Say Yes you took a distribution before 2021
7. Say Yes to Did you take a disaster distribution at any time between 2018 and 2020? and continue through the screens.