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haleypijl
New Member

On my turbotax account is says that I owe $2,646. The amended return prepared for me by tubotax says I owe $3,876. Why are they different and which is true?

 
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4 Replies

On my turbotax account is says that I owe $2,646. The amended return prepared for me by tubotax says I owe $3,876. Why are they different and which is true?

Use the tax due on the amended return.  You have to include a check for a tax due when you mail the amended return.  Do not use any vouchers that may print out.  

You will still get the first refund or need to pay the original tax due.  Then the amended return is only for the difference you get back or owe.  In fact you should not even amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.  And make sure the original refund or tax paid shows up on the amended return.  You can confirm this by printing your amendment and looking at the 1040X. Line 18 should be your original refund amount and line 22 should be your additional refund.  If you paid on your original return it will be on line 16.  If there is an amount owed with the amendment, it will be on line 20.
haleypijl
New Member

On my turbotax account is says that I owe $2,646. The amended return prepared for me by tubotax says I owe $3,876. Why are they different and which is true?

Thank you, but I am still so confused. So the problem is when I first filed I chose the wrong health insurance option. The IRS then sent me a notice requesting my 1095-A form and an 8962 form. I went back to turbo, realized my error and made the amend BEFORE sending the IRS anything back. I already have paid the IRS 1,670 - I was supposed to get a little over $2,000 back. But with the premium tax credit, and an inheritance received when losing my mother I am now required to pay the $3,876 back. However, because of what I was expected to get back and what I have already paid - it made sense that my turbotax said my total tax was $2,646 and that I still needed to pay $976 for federal. Because why would I need to send them a check for $3,876 when I already paid $1,670 and now will not be getting any $$$ back?? Don't know if you can make sense of that - because I surely can't. But I could really use some informed insight

On my turbotax account is says that I owe $2,646. The amended return prepared for me by tubotax says I owe $3,876. Why are they different and which is true?

it would be easier to do arithmetic in ledger format rather than english paragraph format.
1040X just adds the pluses and minus of what you owe and what you already paid.

It then reports the difference.
You really need your originally filed and finally correct tax returns side by side to know what should go on form 1040X.

On my turbotax account is says that I owe $2,646. The amended return prepared for me by tubotax says I owe $3,876. Why are they different and which is true?

@TaxGuyBill are you our health person?  Can you figure this out?

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