Need to update donation amount

[dwlindsey]

I just transmitted my federal return but noticed that I didn't enter the correct amount on donations.  Can I stop the accepted return and re-file?

[DoninGA]

Once a tax return has been filed it cannot be changed, canceled or retrieved

You will have to wait for the IRS to either Accept or Reject your filed federal tax return.
If the return is rejected you can make the necessary changes and e-file again.
If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

[dwlindsey]

Ok and thanks for the information. In addition, I just received a K-1 for an investment account I bought last year. I'm assuming I can just enter that with the amendment? 

[DoninGA]

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@dwlindsey wrote:

Ok and thanks for the information. In addition, I just received a K-1 for an investment account I bought last year. I'm assuming I can just enter that with the amendment? 

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Yes, the Schedule K-1 can be entered with the amended return.

[npierson7]

Yes, you can enter that information when you amend your return. That's alone is enough reason for amendment.