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How do I adjust my 2020 tax return?

Need to show taxes paid should get a refund
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4 Replies

How do I adjust my 2020 tax return?

Are you referring to estimated taxes paid, taxes paid from withholding or taxes paid from an extension request?

Or are you referring to the unemployment compensation exclusion for taxes paid?

 

Have you already filed the 2020 tax return?

How do I adjust my 2020 tax return?

Yes, I filed the return and realized that I hadn't included "taxes paid" on dividends".  Realized after return was sent that I should have showed $720 entry for taxes paid on $7,200 of dividends.  My income is low so I should receive the $720 as a refund. 

How do I adjust my 2020 tax return?


@pbchipman05 wrote:

Yes, I filed the return and realized that I hadn't included "taxes paid" on dividends".  Realized after return was sent that I should have showed $720 entry for taxes paid on $7,200 of dividends.  My income is low so I should receive the $720 as a refund. 


You will have to amend the 2020 tax return that was filed to add the taxes paid on the dividends.

 

An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.


Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.


See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/01/27439

 

How do I adjust my 2020 tax return?

Correct ... the IRS may find this error and fix it automatically  so WAIT for the original return to be in hand before starting the amendment process that may take 4 months or longer to process again this year.

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