Thanks. I am planning to mail the amended return and check status. However,
(1) Will there be a penalty/interest due on the tax I now owe as a result of this amendment? I do not see any listed as part of TT calculation.
(2) Secondly, due to the amendment - we may not meet the threshold for avoiding penalty for underpayment of taxes in 2018. Basically our tax liability increased significantly due to the new tax law and our total deductions turned out to be lower than what they needed to be. I still have to calculate but it is possible that AFTER amendment of 2017 return, 2018 deductions are slightly less than 110% of 2017 deductions (they are definitely less than 85% of total tax liability - 2nd condition for avoiding the penalty). Before the amendment we were ok and had 110% of 2017 taxes deducted in 2018. So, the question is will TT be able to address this and tell us if we owe penalty/interest given that I initiated the 2018 return before amending the 2017 return. I just do not want to end up in a situation of owing thousands of dollars in 3 years instead of couple hundred dollars now!
Thanks again!
