I amended my 2023 tax return and had two separate issues that dictated a refund (or refunds). One refund was for a mistake of paying taxes on double the interest I earned from one bank which I did receive a check for the correct expected refund amount of $452.
However, the other issue I expected to receive a refund for was to use my loss carryover (BTW, I had much more than $3k of carryover) that on my original tax return I failed to carry my loss carryover forward to use it - and this was fully noted in my amended 1040X and I also explained that I failed to carry it forward when I originally e-filed my tax return. My problem is that I did not receive a refund of $661 that I was expecting for the adjustment of failing to use my loss carryover in my original tax return filing.
I mailed the amended 1040X tax return and it had the total refund amount I am due ($1,113) clearly stated, but I only received a refund check for $452 for the correction the double interest I had paid taxes on. I did not receive a refund check for $661 for the correction of not using my loss carryover. Both amended corrections ($452 & $661) totaled $1,113 which was clearly stated on the 1040X amended return.
Why would I not be refunded with one check the full amount I am owed? Does the IRS send separate checks when there are two separate issues dictating refunds? I would have thought I'd receive just one check for the full amended refund of $1,113. So, this confuses me!
Can an experienced TurboTax expert in such matters spread some light on this mystery for me, please?
Does one IRS agent handle certain amended issues (e.g. interest) and then passes it on to another agent that handles different amended issues (e.g. loss carryover)?
Should I be expecting an explanation from the IRS about my refund and about the lack of my expected refund for the loss carryover correction? Do you think the reason I did not receive the expected amended amount will be explained? The IRS website states: 'Your account was adjusted on April 26, 2024. Within three weeks, you will receive a notice that explains the adjustment.' I really don't see how this makes much sense when I've already received a check for less than the amount I should have received.
I'm looking for some wisdom so I can learn how this works!
What should I do to recover what I'm owed for failing to use my loss carryover that I expected to be refunded via my amended 1040X?
