It depends. Form 1040‑X only shows changes to your tax liability, not changes to penalties TurboTax originally calculated but now removes. Here is a specific way to prepare your amendment.
- Fix Form 2210. In TurboTax, go back to Other Tax Situations > Underpayment Penalties. Walk through the interview for the "Annualized Income Installment Method." This will generate a new Form 2210 showing that your Roth conversion happened late in the year (Q4) and that your withholding/payments were sufficient based on that timing.
- Check "Forms Mode" (Desktop) or "Preview" (Online). Look at your Form 1040-X. Even if the tax lines (1–11) show no change, look at the Explanation of Changes (Part III).
- Step 3: Manually Explain. In the "Explain why you are amending" box, you must be explicit. Use language like:
"Amending to request a refund of the underpayment penalty paid with the original return. Form 2210 has been updated using the Annualized Income Installment Method to reflect that the Roth conversion occurred in the 4th quarter, eliminating the penalty."
If TurboTax still refuses to show a refund amount on Line 21 of the 1040-X, the IRS occasionally prefers Form 843 (Claim for Refund and Request for Abatement) for penalty-only recoveries. Here is a link to download form 843 to download and mail in. This is a stand-alone form that does not need an ameneded return to be attached to it.
Most people just mail the 1040-X with the updated Form 2210 and their explanation. The IRS will review everything and notice if there’s been a penalty overpayment and refund the amount of the overpayment even if this isn't reflected on the 1040X.
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