2629669
Hi
I have two questions for which I am seeking help from Turbo Tax professionals
1) Filed my 2021 taxes over 3 weeks ago and refund is still pending. I have made a mistake in my original return which reduces my refund due amount a little bit from original return. Shall I wait for my original return to be processed which may be pending for manual review and may take weeks to months or go ahead and file an amendment for the correction and pay the difference via 1040-v or wait till original get processed or any letter for correction comes in?
2) While I wait for answer to 1 above, I tried to click on amend button and it is not resetting my federal amount to $0 and showing a negative due even before making any amendment but for state it is showing correctly as $0.
I understand that reset may not happen correctly until all steps are done but even after completing all the amendment steps, whatever the dollar negative amount came when clicking start amending return is coming until the end even in the printout of return. It is adding that random amount to actual due amount on the first page of printout of return which has mailing information as well as in the 1040-v payment form but on 1040-x random incorrect amount is not appearing and whatever i should owe is coming correctly.
How do I fix the random amount which is coming in 1040-v and the first page of tax return?
It is definitely a bug in Turbotax software.
Your help is much appreciated.
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First do NOT file the amended return until the original has been fully processed ... until you know what the IRS does with the return you cannot know how to proceed. They may make changes and you will have to reflect those on the column A of the form 1040X before you start the amendment process. Save a .taxfile of the originally filed return for safe keeping ( give the file name a unique identifier).
Next ... since you have the downloaded program you can ignore the confusing "refund meter" (and the 1040-V is only used for the original return not the 1040X) and switch to the FORMS mode to review the actual 1040X ... when you first start the columns A & C should be identical and column B blank.
Look at the form 1040X …
Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.
If you completed it correctly you will see an entry on either line 16 OR 18:
On line 16 should be the amount you paid with your original return. If you paid nothing already then this line should be zero.
On line 18 should be the amount of your original refund you received. If you have not received your refund yet then you need to wait for it. If the refund changes from what you expected then this line must reflect that change.
Then you will see your extra refund on line 22 OR the new balance due you need to pay on line 20.
This is my mini version of a tutorial that should be in the downloaded program:
Forms Mode lets you view and make changes to your tax forms "behind the scenes."
If you're adventurous, you can even prepare your return in Forms Mode, but we don't recommend it. You may miss obscure credits and deductions you qualify for, and you may forget to report things that will come back and haunt you later.
Forms Mode is exclusively available in the TurboTax CD/Download software. It is not available in TurboTax Online.
If you want to play around with different figures and tax scenarios without affecting your original return you can ….
Once you have filed successfully … you can shut off the auto updater function and then save the return & .taxfile.
It's always a good idea to make a backup copy of your tax data file, in case your original gets lost or corrupted. Here's how:
If you make changes to your original tax return file, repeat these steps to ensure your original and backup copies are in-synch.
AND save it as a PDF so you have access to a copy even if you don’t have the program still installed and operational :
AND protect the files :
*** Other clues to the downloaded program ***
In the forms mode ... double click or right click on a box on a form to data source it ... sadly it doesn't work on all boxes.
When you look at an onscreen tax form using Forms Mode, you might wonder why one figure is blue and the one next to it is red or black.
These colors indicate the source of that data.
Color | Meaning |
Blue | You entered this data, either in the interview or Forms Mode. |
Black | The program entered this data or calculated this amount. |
Red | This data has either been overridden or is invalid (for example, a ZIP code that doesn't exist). |
Red italics | You marked this amount as estimated. |
Black italics | The program calculated this amount from an amount you marked as estimated. |
Purple | This information has supporting details. |
Aquamarine | This data was transferred over from last year. |
Green | This data was imported from Quicken or QuickBooks. |
Yellow fields (Windows) | Yellow fields allow user input. Anything you enter here shows up in blue. |
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