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Would I subtract one from the other to know amount I'm still accepted to receive or is second amount the total overpayment? Thank you again

I did taxes prior to amendment and received federal tax refund. Now turbotax shows I have an overpayment.
Do I subtract the amount I have already received from overpayment amount to know what I'm still owed. Or is the overpayment what I'm still owed?
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2 Replies
KathrynG3
Expert Alumni

Would I subtract one from the other to know amount I'm still accepted to receive or is second amount the total overpayment? Thank you again

First, the changes on an amended tax return typically assume that any previous refund amount has been received. However, this should be checked by downloading the PDF by following these steps:

  1. From the left menu, select Tax Home
  2. Scroll down to Your tax returns & documents and Show.
  3. Navigate to the option to download the PDF of your return.
    • The forms are named in the top left and lower right hand corners of each page.

Navigate to Form 1040-X, Line 18, which is: Overpayment, if any, as shown on original return or as previously adjusted by the IRS.

 

Second, the IRS does not want taxpayers to amend their tax returns if the changes are related to tax law changes from the American Rescue Plan. The IRS will automatically recalculate these adjustments in many cases.

 

For more information, see: Do I need to amend?

Do I need to amend my state if I amend my federal?

Would I subtract one from the other to know amount I'm still accepted to receive or is second amount the total overpayment? Thank you again

Study form 1040-X and understand how it works before amending.

Don't file an incorrect Form 1040-X.

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