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If the IRS accepts your 2022 return, you will have to amend your return to add the additional 1099-A. You will not want to make any changes or adjustments to the return while it is in pending status. The IRS will first have to accept or reject the return.
If your return is accepted, you will need to follow the following steps in TurboTax to amend the return:
For more information on amending returns, see the link below:
How do I amend my federal tax return?
Awesome, thank you so much.
If the return is accepted DO NOT amend the return until the IRS releases the original refund. Wait until you have the money "in hand". It is possible that the IRS may catch the error and send you a note to make the correction on the form 8962 and only send them that form ... amending will not be needed. So again WAIT until the original return is fully processed by the IRS.
I'm actually not getting a refund. I ended up owing, though I'm hoping that this is largely because of my error. In this case, would I wait until the money I owe is taken out of my bank account?
No, don't wait for the balance due amount to be debited from your account. With this said, the 1040X form will not be available until 2/23 so you won't be able to amend at this time. Meanwhile, the amount, in all probability, will be debited before that date. The IRS is efficient with their debits.
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