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Owing on an Amended Returned 1 year later after filing on time and receiving a refund
I am helping a friend amend 2021 taxes, filed on time and they received a refund of $2,000. Then upon working on 2022 tax return, it was discovered that some income was missing on the 2021 return. So we are amending 2021 return in Turbotax and adding the income. Turbotax says they now owe $5,000 on the amended return and this can be debited from the bank account. Our question is...they pay the $5,000 and will the $2,000 refund from last year be additionally owed (thereby owing $7,000) or is Turbotax already taking that the refund in consideration?
‎April 14, 2023
2:21 PM