I had to make a small adjustment to my NC State return; it required a small adjustment to my federal. TurboTax says I owe my full federal amount again. Am I misreading?

sbsvwa

I incorrectly reported Estimated Tax payments to State of NC from my K-1 as personal estimated payments to the state rather than estimated payments from the partnership. To correct this, Turbo tax had me edit my estimated payments on the Federal return (changed to zero) and update the state return showing the payment came from the partnership. Once I filed the amended return, Turbo tax presented a Federal voucher it said I needed to print and send in with a full tax payment (which I already paid to the IRS in April). Am I just mis-interpreting what it's asking me to do?

VolvoGirl

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.

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sbsvwa

Excellent, thank you. I've never filed an amendment with TurboTax until this year. I see exactly what you're saying - nothing in Line 20.

I had to make a small adjustment to my NC State return; it required a small adjustment to my federal. TurboTax says I owe my full federal amount again. Am I misreading?

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