TurboTax calculates which option is better - standard deductions or itemized deductions - though you can direct the program to switch from itemized to standard if you have a reason for doing so. If you told the program to select itemized when the standard deduction would have been better, you can amend your return to make the change,
The IRS doesn't want you to amend until you've already gotten your tax refund. If you owe money after amending, you'll have to include payment with your e-filed or mailed amendment form.
See this tool for information about the availability of forms in TurboTax. As of now, Form 1040X for amended returns is projected to become available on February 14, 2024, subject to change.
There are times when you should amend your return and times when you shouldn't. Here are some common situations that call for an amendment:
- You realized you missed out on claiming a tax deduction or credit.
- You accidentally claimed the wrong tax filing status.
- You need to add or remove a dependent.
- You forgot to claim taxable income on your tax return.
- You realize you claimed an expense, deduction, or credit that you weren't eligible to claim.
See this article and this one for more information on filing an amended return with TurboTax.
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