Need to amend my tax forms
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rkm3rkm
Returning Member

Need to amend my tax forms

Both the federal and state were e-filed and accepted. Today I received correct 1099INT, DIV and 1099B's from one of my institutions.

 

How do I amend? Obviously I made a copy and re-entered the corrected data and it makes a difference on both Federal and State. I have not sent the check to the state to pay what we owe. Federal we get money back.

 

How do I do this for e-filing? I see about a 1040X, not sure how I make these changes

5 Replies
HelenC12
Employee Tax Expert

Need to amend my tax forms

Wait for the IRS to finish processing your return. Once the IRS has finalized the 1040X form and your return, see How to amend (change or correct) a return you already filed?

 

At this time, you're not able to  amend a 2020 income tax return. As of today,

it's estimated that the IRS will finalize the 1040X form on 3/25/2021. However check the forms availability to see any updates to that date. 

 

Generally, Form 1040-X,  Amended U.S. Individual Income Tax Return, must be filed within three years of the date the original return was filed, or within two years of the date the tax was paid, whichever is later.

 

 

 

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rkm3rkm
Returning Member

Need to amend my tax forms

Thank you, what do I do about the state forms to my state? Based on what I can see, I will end up having to pay less than before. I have not mailed anything yet to them

 

Thank you

JotikaT2
Employee Tax Expert

Need to amend my tax forms

It depends.

 

If you have filed your state returns electronically, you will also need to wait until the return is accepted. 

 

You will then follow the same procedures to amend the state return.  

 

As far as the state tax due, as it typically does take a while for the amended returns to be processed, I would recommend sending your payment in based upon your original return.  Make sure you reflect this payment on your amended return.  You will then be refunded for the difference and will avoid any potential late payment penalties that could occur if your amended return is not processed by the due date of the return as originally filed.

 

Steps for amending a tax return

 

Steps to amend a state tax return

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rkm3rkm
Returning Member

Need to amend my tax forms

I am unable to amend my return. Both Federal and State were accepted via efile. I received my Federal Refund, and mailed what I owe to state.

 

I am using the CD installed Turbotax on my IMac

 

The instructions say to open Turbotax and click on amend a return. However it does not give me the option to pick my current return I need to amend. I only can do File/New Return which starts all new or File/Open a return which opens my current return but no option to amend.

 

What am I doing wrong?

DawnC
Employee Tax Expert

Need to amend my tax forms

We’re working hard to update TurboTax to the most recent IRS changes along with the American Rescue Plan and are still waiting on how individual states are handling these changes. Go here to see whether or not you’ll need to amend your state return for your unemployment income.

 

If you need to amend your state return or update something other than unemployment, try again after next week. We want to make sure your amendment is done quickly and accurately with the latest guidance from your state and the IRS. Check back here for updated dates in the future.    You can see more details around who should amend here. Waiting to amend, if necessary, will not delay any refund you may newly qualify for.

 

Sign up here to be notified when you can continue to amend your return.  @rkm3rkm

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