Courtesy of my bank, they realized one of their 1099-INT was incorrect LONG after I had filed and received my refund. When I try to use TurboTax to amend, it pulls up most but not all of my 1099-INT and -DIV institutions and fails to bring up the 1099 I am trying to correct.
I can't fix what I don't have and for that matter, it is tough to figure out what I need to fix, because the bank had sent the original 1099-INT with part of the interest.
So, 1. How to get my original 1099 data to present in the software? And 2. What do I enter? The adjusted amount?
Help. I really hate amendments and this software is not making it any better.
Thanks.
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The easiest thing to do may be to just add a new 1099-INT for the difference between the original and the corrected one that you received.
So if the original was for $30 and the corrected on is for $50 you would just amend the return and add a new 1099-INT for the additional $20 shown on the corrected form.
I agree, but it would help if TurboTax would include the already processed 1099-INT's info for that bank. It doesn't. It does have other ones that were submitted.
The software says, oh, it takes your previous info into account, which would allow me to do exactly what you are suggesting - except they are not there. Some of my others are there, some aren't.
So long story shorter, TT came up with an amount I would now owe, but without having complete data, I can't tell if it is accurate.
When you print out the amended return Form 1040-X, the numbers in the first column will agree with the numbers on your original return and the amounts in the third column will be the new numbers. The difference will be the middle column. You should be able to readily tell if the amended return is correct by reviewing the amounts in those columns.
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