Do I need to amend my tax return if I received the second page of my w-2 after filing?

[ly70]

I recently filed my tax return using the first page of my W-2, which was initially all that my employer provided. Later on, my employer sent me a second page that included additional information in Box 12 — specifically, Code V and Code DD.

I’m wondering:

Do I need to amend my tax return because of the information on this second page?

Do Code V and Code DD impact my tax liability or they are just informational?

[CatinaT1]

Yes, you will need to amend. DD is for health insurance, which will not make a difference, but code V represents income from the exercise of non-statutory stock options. 

If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines. 

• You must first wait until the initial return is completely processed.
• You will have to use the same TurboTax account that you used for the original tax return.
• Once you begin your amendment, you'll see your original return.
• The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
• Only make changes to the areas of your return that need to be corrected.
• You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment

Select your product below and follow the instructions. 

Amend TurboTax Online 

Amend TurboTax CD/Download 

[ly70]

Thank you for the helpful response! I just had a couple of clarifying questions before I proceed:

When you say I should "wait until the initial return is completely processed" — does that mean I should wait until the refund is actually approved and issued, or is it okay to go ahead once the return has been accepted by the IRS?

When amending, I noticed that TurboTax resets the refund calculator to $0. For example, if my original return showed a refund of $50, and after the amendment it still shows $0, does that mean:

I will still receive the original $50 refund?

Or does it mean I won’t receive any refund at all?

Just want to make sure I fully understand before I make any changes. Thanks again!

[CatinaT1]

Wait until it is completely processed and you've received your refund.

This is why you wait until you've received your refund. The amendment will show you previously received a $50 refund and the amendment will show if you have a balance due or refund based on the amendment. You may not have a refund or balance due at all, but because of your Code V, you still want to amend.