Workaround for amended returns where refund monitor does not reset to zero/original return amounts are incorrect

[neecick]

There are many posts regarding the issue of 2022 and earlier amended returns having a glitch on TurboTax desktop.  The first thing the user will notice, is the refund monitor does not reset to zero once the amended return option is selected.  It is not actually a problem with the refund monitor, it is that the original tax return amounts are not carrying to 1040-X correctly.  Here is a workaround (I am using TurboTax Home & Business, not sure if the steps will be the same for other versions) 

1)  open the tax return file that you want to amend

2)  use "save as" to save it with a new filename so you will still have the file for your original return

3)  use the forms view to navigate to 1040-X (it might not show up in the list of forms, but use the "open form" button at the top of the list and type it in to search)

4)  edit the amounts in column A to match those in column C (these should agree to your originally filed return).  Result should be all zeroes in column B because you have not made any changes to your return yet.

5) continue editing 1040-X (further down you will see a spot to enter your estimated payments, payment with extension, AND the amount you paid/were refunded on your originally filed 1040)

6)  at this point, your total tax on 1040-X and your total payments on 1040-X should be the same and the refund monitor should be at zero.

7)  after this is accomplished, you are ready to make the changes to your return, just as if you were completing an original return (using the step by step or forms view, whichever is your preference)

😎  now any changes you make will correctly update the refund monitor and you should be able to complete your amended return

9)  i did also learn that the deadline to efile a 2022 amended return was Oct 2023, so basically you can only efile current year amended returns.  However, the file you print out of turbotax to mail in will contain your entire original 1040.  From everything I have read, it is not necessary to mail in all 50-100 pages that they include.  Only the 1040-X, and any forms and schedules that have actually changed.

Note:  I also filed a 2023 amended return and did not run into this problem, so I believe after all of these years, the issue has finally been resolved on later versions of Turbotax.

[mancillaj]

My bad ... i missed updating the portion for line 16 ( a spot to enter your estimated payments, payment with extension, AND the amount you paid/were refunded on your originally filed 1040)

[Lynnmarn]

Does the amended return show the amount to be returned or the adjusted amount. She  had a refund of 7437 but it should have only been 6142 hence she owes them 1295. But the amended return shows the corrected  amount of tax refund of 6142. 

[VolvoGirl]

You will still get the refund from the first original return or still need to pay the first tax due.  In fact you should not even amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.  

Then the amended 1040X return is only for the difference you get back or owe.  I think the cover sheet shows what the original return WOULD have been if you did it right the first time.  Ignore the new 1040 that might print out.

Go by the actual 1040X.  Line 18 should be your original refund amount and line 22 should be your additional refund.  If you paid on your original return it will be on line 16.  If there is an amount owed with the amendment, it will be on line 20.

If you have a tax due, do not send the 1040V.  Just include a check with the 1040X.  Ignore the 1040V.  That is for the original return or what the original return would have been if it didn’t need correcting.  Don’t pay the amount on the 1040V.  Pay the amount on the actual 1040X line 20.

Or You can pay the IRS directly at

Https://www.irs.gov/payments

Pick Amended and 1040X on the payment page.

[Lynnmarn]

Nope that doesn't work. When I open the tax return and select amended return it displays the original numbers. Then when I edit the Deductions & Credits and Change the interest from 29,991 to 2,991 the federal returns amount shown is 206 and the state tax due is 371(correct). That is absolutely crazy since my original return was federal refund of 7,437 and state of 2,023. And should be federal refund of 6,142 and state of 1,652. I did get both refunds and owe federal 1,295 and state 371. The state is correct but for the life of me I can’t get the federal to be correct not matter how many forms I edit.