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Level 1
posted Apr 8, 2024 8:55:04 AM

For 2022, I reported the sale of crypto. I didn't enter my information correctly and paid tax due. I'm amending my return. Will the IRS automatically refund me if due?

According to my calculations, the IRS should refund me what I paid in 2022. Will simply filing an amendment key them into refunding me?

0 3 1045
3 Replies
Expert Alumni
Apr 8, 2024 2:12:14 PM

Yes.

 

If you prepare an amended 2022 1040X tax return which correctly requests a refund and submit it to the IRS, the IRS will refund the balance due.  Make sure that the mailing address on the IRS form 1040X amended tax return is correct so that the refund is forwarded to your mailing address.

 

In most cases, you have three years to amend a Federal 1040 tax return and receive a refund of your balance due.

 

See also here.

 

 

Level 1
Apr 9, 2024 3:34:46 PM

James,

Thanks for your answer! When I filled out my amended return, I don't believe I saw anywhere to request a refund. How do I "correctly request a refund?"

Thanks again!

Scott Mattson

Expert Alumni
Apr 9, 2024 3:56:36 PM

When you mail in the 1040X, that is requesting the refund.   Look at the 1040X at the bottom of page 1 - Refund or Amount You Owe.    The amount you paid should be included on Line 16 (tax paid with original return).