Should I still transfer my 2020 Turbo Tax return when I begin my 2021 return given the fact that I made a mistake on that return and had to pay IRS more money?

[mcrisman1]

I am worried that since the 2020 return shows less money due than I actually paid that transferring it to my 2021 return will also, somehow, make my 2021 return incorrect.

[HelenC12 · Accepted solution]

It depends what the correction was for. If it was for an item and affects an amount that will carryover into your 2021 income tax return, you can amend your 2020 income tax return, in TurboTax, to match what the IRS corrected. You won't send in the amended return but you'll have the correct information when you transfer your .tax data file. If you're not sure if your 2020 information will affect your 2021 tax return, do the amend to be on the safe side.

See the following:

1. If you did your taxes with TurboTax Online, see How do I access a prior-year return?
2. How do I amend my 2020 return? 
3. How do I save my TurboTax Online return as a tax data file?