I'm amending my filed 2020 return but Turbotax doesn't start out with a zero balance. When I bring in the return to be amended, and I click on continue (after the 3 steps are listed), it says I owe tax even though I haven't made any revisions. It should start with a zero balance.
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Just to clarify the situation.
Did you happen to owe taxes in 2020?
Was this the number, or close to the number that carried over?
IGNORE the refund meter when amending ... it will only confuse you. Since you must be using the 2020 downloaded program switch to the FORMS mode and look at the form 1040X ... column A will have the original return amounts and if you made no changes the same will be in column C and column B will be blank. IF there is an amount in column B then drill down to see what it is ... could be something like a box that reset to yes when it needs to be no ... completing the interview again in the Step By Step mode should correct that.
Yes, I owed tax in 2020; however, the tax due when I ran the amended return was very large (should have computed a refund). When I looked at the 1040 forms for both the original return and the amended return (with the correction I made) the returns were what I expected. The 1040-x form had changed every line item on the original return from what was filed in apr 2020 but the amended column C was what I expected. It was as though turbotax imported my original incorrectly. I gave up and instead filled out the IRS form that they have on line.
Thanks, I did review all items in the forms mode which looked ok, but I will try the step by step interview mode.
I went through the forms step by step; no luck. If I run Turbotax and make the revision, I get the correct results,a refund. However, if I run Turbotax to do an amended return, it doesn't import my original return correctly. It understates my AGI by 58000. reduces my Itemized deductions, adds carryovers that don't exist and then tells me I owe another $20k in tax when in fact if I should get a refund.
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