My college going son e-filed his federal return and it has been accepted by IRS, but the refund has not been approved and received by him yet. In his return, the IRA contribution he made in 2019 was incorrectly classified as Traditional IRA, but was actually a ROTH IRA. He received a deduction for that, which increased the refund amount. He needs to correct the error.
- Will IRS correct the error on his behalf and reduce the refund amount accordingly?
- Should he wait till IRS completes processing of his return and approves/corrects his return and then file the amended return?
Thanks
