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If I was not aware I itemized last year and selected standard by mistake. Do i need to amended my taxes because i answer that question incorrectly in turbo tax?
I was working on my 2018 taxes when i was asked by turbo tax if i itemized my taxes last year or did standard. I had selected standard because i was informed i only itemized if i save receipts. Unfortunately that was not the case because i have a house and since I have already filed my taxes with my standard deduction. My question is since i didn't answer this question correctly on turbo tax do i need to amended my taxes?
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After you file
You might, if you received a state refund in 2018 (for tax year 2017).
If this is the case, work-up an amended return to see if it will have any impact on your tax.
Wait until the original processes, (the IRS might correct your return for it, in which case they will send you a letter explaining what they believe should be corrected and ask you if you agree).
If the IRS does not correct for it, you will need to file an amended return.
If you will owe additional tax (or need to pay back part of the refund) make sure you do that by April 15th.
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Schedule 1 is attached to the 1040.
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Is the refund taxable on your 2018 return? NO-not if you took the Standard Deduction on your 2017 return.
Did you take the standard deduction on your 2017 return? I don't know, I think you say "Yes" you did, but when the program asked, you said No, you took the standard.
Do you need to know where to find this information? It is on line 40 of the 2017 1040. You need to look at this line to see if you itemized or took the standard deduction. Also, if you itemized, you would have had a 2017 Schedule A.
OK, now I think you are saying that you DO need to claim the refund, but your not sure if you already did claim the. refund on your original 2018 1040.
To see if you claimed the refund already, look at your 2018 Schedule 1 line 10.
JUST SCHEDULE 1 LINE 10.
If this line has the refund reported, you already claimed it. If not you didn't.
(schedule 1 line 10 does flow to the 1040 line 6 but so do other things, so the amount won't be the same. Just look at schedule 1 line 10)
I hope this makes sense. If not, please tell me what exactly you are trying to look at or find at this point.
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The amount on Schedule 1 line 10 should be the same as the amount of the refund.
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This is what happen.
In 2017 i did itemize because that is what turbo tax prompted me to do because i have a house. so in 2017 i did file a schedule A.
This year when i did my taxes for 2018 turbo tax asked me a question that said.....did you itemize or take the standard deduction in 2017. i was misinformed about what it means to itemize and selected standard. then i finish the rest of my taxes and sent it through efile
once i was informed that i itemized last year i realized i made a mistake on my 2018 taxes. so i was asking in the beginning of this whole conversation if i needed to amended my taxes because i answered that question incorrectly.
you had responded and told me that i needed to wait and see if the Irs would catch my mistake and send me a letter to fix it. unfortunately the Irs did not send me the letter and i received my refund. so i started to amended the taxes. once i was amending them using turbo tax that question never came back and the refund stayed at zero there was no change for federal. i started to
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Here is how to enter the tax refund as income:
Type refunds-state income tax into the search box and click the "Jump to refunds-state income tax" link
Or
Click Federal
Wages & Income
Scroll down to “Other Common Income” (First click “Show all income” if needed)
Click Start next to Refunds Received for State/Local Tax Returns