Yes, the box 1 amount is much larger than box 5. You have a 1099-Q that comes into play as well.I am going to recommend you look at another of my answers for help with making sure you have the right numbers in the right places.
Once you have your numbers correctly manipulated, you can amend.
Once your return is accepted and the finances are settled, you can file an amended return.
- Save a copy of the original return before doing an amended return. See:
- Pay additional tax. Taxpayers who will owe more tax should file Form 1040-X and pay the tax as soon as possible to avoid penalties and interest. They should consider using IRS Direct Pay to pay any tax directly from a checking or savings account for free.
- Use separate forms if amending more than one tax year.
- Track amended return status online. Taxpayers can track the status of their amended tax return in English and Spanish using Where’s My Amended Return? Amended returns take up to 16 weeks to process and up to three weeks from the date of mailing to show up in the system.
@Greg_1014
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