Earlier this year, I sent a Form 1040 (not 1040X) for tax year 2020 to report a recharacterization of a Roth contribution of $3,000 from a Roth distribution to a traditional IRA contribution account. I went thru TT and it generated an explanation statement, not a 1040X as no amounts, income, deductions, nothing changed whatsoever. On top of the new 1040 Form, I wrote "Amended - Explanation Statement Only" and attached the statement. It was the same 1040 Form just with the notation on top. Now I'm trying to complete the financial aid process with the college that my son plans to attend in the fall. They've informed me that the Department of Education requires a Form 1040X. Can I submit this today, and just fill out Part III of Form 1040X with an explanation? This is holding up our financial aid package, and I'm at a loss on what my next step should be. Any suggestions would be greatly appreciated...
