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mwarnersc
New Member

I filed tonight and just realized I forgot to include the taxes for my condo I paid. I’d imagine I’d get a bigger return if I claimed the paid taxes. How do I fix it now?

 
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3 Replies
ee-ea
Level 15

I filed tonight and just realized I forgot to include the taxes for my condo I paid. I’d imagine I’d get a bigger return if I claimed the paid taxes. How do I fix it now?

Your pending return can not be changed. If your return is accepted you will get an email. If the return is rejected the e-mail will tell you what to correct and you can make changes before e-filing again. Amend to change an accepted return after you get your refund. Instructions below. https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...

I filed tonight and just realized I forgot to include the taxes for my condo I paid. I’d imagine I’d get a bigger return if I claimed the paid taxes. How do I fix it now?

If your itemized deductions will be enough to exceed your standard deduction it might help you to amend later. Quite often, even entering property tax and mortgage interest is not enough to have any effect though, so you will need to look at the amounts to see if amending will change anything.

 

 

 

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. (Only the amount that is MORE than 7.5% of your AGI counts)   The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.  Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

 

Your standard deduction lowers your taxable income.  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2022 Form 1040.

 

 

 

2022 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,950  (65 or older + $1750)

 

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

 

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

 

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

 

Legally Blind + $1750

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
ErnieS0
Expert Alumni

I filed tonight and just realized I forgot to include the taxes for my condo I paid. I’d imagine I’d get a bigger return if I claimed the paid taxes. How do I fix it now?

You may get a bigger return if you include your condo expenses. As Tax Champ @xmasbaby0 says, that only happens if you are able to itemize your deductions.

 

As Tax Champ @ee-ea says, you’ll have to amend your return if you want to change it, unless the IRS rejects it.

 

Before amending, you can add your condo taxes just to see whether it would make a difference. TurboTax will update your refund box.

 

If it’s the same, there’s no need to file an amended return. If the refund increases, remove the condo taxes and start the amendment process. You'll need to start with the original numbers at the beginning.  During the amendment process, you'll add your condo taxes.

 

When you amend, TurboTax will set your refund box to $0. The new refund amount will be a second refund.

 

Processing an amended return can take up to 16 weeks.

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