I filed 1040X and it was accepted. I need to file another 1040X to make this simple change on Schedule C: On line 41, which I mistakenly left blank, I need to insert the same amount shown on line 40, so that line 42 becomes zero (instead of the erroneous loss now shown). Then TT can do its thing with the ramifications of that change.
Online I go to "amend a return" and navigate to "self-employment income" but the "edit" button leads me only to more questions that don't get to where I need to go and only circle me back.
I would really appreciate some very specific step-by-step guidance about this.
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When you use TurboTax online, you need to be aware of what the interview questions are and answer them with the correct amounts What is your inventory? What is the cost of your inventory? Online will not let you go to the line and make changes there. You must do the changes by correctly answering those questions.
To amend twice you must delete the form 1040-X but leave the revisions you made on 1040.
You only get one 1040-X e-File and that only if you did e-File 1040.
If you are going to amend a second time, you have to file a paper Form 1040-X.
Note : many users, including me , have reported that amending twice doesn't work.
I haven't tried it with TurboTax 2020 to see if there are improvements this year.
Maybe you could report back how it goes for you.
Thanks fanfare, that sounds worth a try and I will report back.
Be sure to print a paper copy of Form 1040-X No.1 for your records.
You will definitely need it to file a correct 1040-X No.2.
DO NOT mail in the second amended return until the ORIGINAL return AND the FIRST amended return have both been fully processed. Sending it in too fast can cause confusion and extra delays in processing. The IRS can only handle one return in your SS# in the system at a time.
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