Wrong amount on income, should I amend?

[Mommymadness02]

I e-filed in late January, I had 2 "Live" people walk me through it since I was confused and I'm self employed with 2 companies. AFTER I filed my taxes, I went back through the paperwork to look over everything an noticed that my "income" with one of the business doubled without me noticing, which I believe means I paid more taxes on that one. Am I supposed to amend it to correct it?

[DawnC · Accepted solution]

Yes, if you over-reported your income, you should amend to correct it and get a refund for the taxes you probably over-paid.    I will leave the amending instructions below.   

If you did the same kind of work for each of the 2 clients, it goes on the same Schedule C.    Schedule Cs are self-employment business schedules that report income and expenses for each business (or line of work) you do.   You can have a hair salon business with 100 clients you service - all of that income goes to the same Schedule C.    Now, let's say you do bookkeeping work for a few other businesses on the side.   Your bookkeeping income would require a separate Schedule C - the work done is very different.   Most people only have one Schedule C, but it is not that uncommon to have 2, 3, or more.   If you are going to amend, you may as well combine them assuming they should be.    When you have multiple businesses, the deductions can get messy fast.  

Short story - Schedule C is specific to a line of work, not the client you did the work for.   

Amending instructions.