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Ikk
Level 1

I filed 2020 return early and then had to add a K-1 that arrived later. my total taxable income DECREASED after adding the K-1, but turbo-generated amended return says I own $358 (overpayment)

I filed my 2020 return early to get qualified for the stimulus check. a K-1 arrived later and I wanted to amend my return and add that. after filling in the form on Turbotax, my taxable income for 2020 decreased by $1800 or so. but Turbotax-generated 1040-X says I own $358. $358 is the stimulus credit (1040 line 30 recovery rebate credit) I received after filing that return (having received a partial stimulus check earlier in 2020 due to my higher taxable income in 2019).

Turbotax mistakenly considers it an "overpayment" (1040-x line 18) after amendment, even though my taxable income actually decreased after amending the return. I think this is a bug.

How can I get Turbotax to generate an accurate 1040-X that states I owe $0 after amending? Can I just print out the form and just manually overwrite box 18,19, and 20 (1040-X) and put 0 in all 3 boxes?

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1 Reply
AmyC
Expert Alumni

I filed 2020 return early and then had to add a K-1 that arrived later. my total taxable income DECREASED after adding the K-1, but turbo-generated amended return says I own $358 (overpayment)

You can switch to FORMS mode to correct and view your 1040x. The rebate recovery credit should not be showing as an amount due. You can override that box. A right click and select override, then enter the correct zero.

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