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How to Amend a prior year to recoup penalties paid
In 2024 I paid a tax penalty as I did a Roth conversion but failed to annuitize my income. I thought this would be straight forward to file a 1040-X in Turbo Tax 2024 to recoup that penalty. However, when I amend my return Turbo Tax accurately says I no longer owe a penalty, but then does not reflect that on Form X. It then asks...Are you sure you want to Amend as there is no difference in tax due. What am I missing?
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‎February 15, 2026
10:04 AM