turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

We owe Fed. After doing an amendment there was a small refund. Can I deduct this from amt owed.

 
This feature is pending. Thanks for your patience.
Didn't get the answer you wanted? Talk to a live expert to get the help you need.
1 Best answer

Accepted Solutions
IsabellaG
Expert Alumni

We owe Fed. After doing an amendment there was a small refund. Can I deduct this from amt owed.

Yes, that is what the calculation for an amended return does. However, if you haven't already paid the original amount, it's usually best to pay it, file the amended return, and wait for the refund of the smaller amount, because the IRS can change your return after you file it, and you want to be sure that the tax return that you are amending has been both accepted and processed by the IRS exactly the way that you originally filed it.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
IsabellaG
Expert Alumni

We owe Fed. After doing an amendment there was a small refund. Can I deduct this from amt owed.

Yes, that is what the calculation for an amended return does. However, if you haven't already paid the original amount, it's usually best to pay it, file the amended return, and wait for the refund of the smaller amount, because the IRS can change your return after you file it, and you want to be sure that the tax return that you are amending has been both accepted and processed by the IRS exactly the way that you originally filed it.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v