Should I return my refund if I amended my return and now owe?
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brevingrj
New Member

Should I return my refund if I amended my return and now owe?

I received my 1099B after I had already filed my taxes.  Originall, I was to get a return for both federal and state, but with this change I now owe for both.   however, my original refund has already been deposited into my bank account.   What do I do with the refund?

7 Replies
DustinTS
New Member

Should I return my refund if I amended my return and now owe?

With the original refund you should pay the amount owed on the amended returns.

brevingrj
New Member

Should I return my refund if I amended my return and now owe?

So if I had a $1,500 refund and after the amended return owed $300.  I pay the $300 and keep the rest?
DustinTS
New Member

Should I return my refund if I amended my return and now owe?

Yes that is the case.

Once you start an amend it zeros out the refund. This is due to the fact that the software thinks you have already received or paid the original refund amount.
thomas124-1
New Member

Should I return my refund if I amended my return and now owe?

What if your refund is $247 and you owe $318?
DustinTS
New Member

Should I return my refund if I amended my return and now owe?

Then you should take the $247 you received from the original and add $71 to pay for the amended return
thomas124-1
New Member

Should I return my refund if I amended my return and now owe?

One more question.  When I get that refund send it back with the 71 right?
DustinTS
New Member

Should I return my refund if I amended my return and now owe?

Yes this would be the best option as you have the money instead of possibly using the money and not having it later.
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