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I received a revised K-1 after I filed my 2024 Federal return. The revised K-1 has a line item for: 99o47 Cumulative Passive Losses 3,823.  The amount was revised from $0 to $3,823.  Based on this ch... See more...
I received a revised K-1 after I filed my 2024 Federal return. The revised K-1 has a line item for: 99o47 Cumulative Passive Losses 3,823.  The amount was revised from $0 to $3,823.  Based on this change: 1) do I need to file an amended return?, and 2) where do I enter the $3,823 amount in TurboTax?
Hello, I came to discover some unreported foreign accounts and foreign income after I filed the original 2024 tax returns end of Feb 2025. I e-filed the amended 2024 return (both federal and NC state... See more...
Hello, I came to discover some unreported foreign accounts and foreign income after I filed the original 2024 tax returns end of Feb 2025. I e-filed the amended 2024 return (both federal and NC state) to include the omitted foreign income (about $3k) and 2024 FBAR in first week of Apr 2025. Then I worked to gather the historical information for 2019 to 2023 FBAR. The unreported income for 2022 and 2023 is less than $2K each year. Should I wait until after my amended 2024 returns processed by IRS before filing the streamlined domestic offshore procedures?  Also how should I deal with the NC state return amendment for 2022 and 2023 - should I just e-file the amendment, since I will need to submit paper returns for the streamlined domestic offshore procedures?  thanks
You can only amend returns 3 years back. For instance, 2021 returns were due April of 2022, so the last date to file an amended 2021 return was April 15, 2025, 3 years from the original due date.   ... See more...
You can only amend returns 3 years back. For instance, 2021 returns were due April of 2022, so the last date to file an amended 2021 return was April 15, 2025, 3 years from the original due date.   Did the IRS recently send you a letter? If not, you will not be able to make any changes.
Thanks! 1) should I follow the same steps for state taxes? 2) what's the deadline for me to do this?
After filing my 2024 returns, I received a letter saying the IRS showed I likely made crypto transactions but didnt report them which was true - I had forgot. I pulled the CSV for the transactions, a... See more...
After filing my 2024 returns, I received a letter saying the IRS showed I likely made crypto transactions but didnt report them which was true - I had forgot. I pulled the CSV for the transactions, added it to federal and state and amended the returns the beginning of April 2025. There was no change in taxes due since I had already reached the $3k cap gains loss. After amending, I realized the box on page 1 of the 1040 was still marked "Did NOT make digital asset transactions in 2024" even though I added the transactions to turbotax. Do I need to amend again to mark the box on page 1 1040 YES to digital asset transactions? Thank you for your help!
If your return was accepted and processed and the change would not affect your refund, income or tax due, you do not need to amend your return. 
I am aware of an issue with my 2017 return only last month in March. Based on the transcript it said "Math error". I tried to review my return multiple time and still do not see any error and I notic... See more...
I am aware of an issue with my 2017 return only last month in March. Based on the transcript it said "Math error". I tried to review my return multiple time and still do not see any error and I noticed that IRS did not apply Foreign earned Income exclusion to my return inspite of me applying it.   in this case do I need to file an amended 1040X or just preparing a letter explaining my findings?
If your 1099-R shows "G" in Box 7, you don't have to amend, your tax will not change.   IRS will figure it out.   @ghbadger 
No, don't file new amendments.   You will need to contact the IRS for information. It might be easiest to set up an account with them.   IRS Individual Online Account   Taxpayers with a Social ... See more...
No, don't file new amendments.   You will need to contact the IRS for information. It might be easiest to set up an account with them.   IRS Individual Online Account   Taxpayers with a Social Security number or an Individual Taxpayer Identification Number can create or access their IRS Individual Online Account to get information they need to file their return. With an IRS Individual Online Account, people can: View balance owed, payment history and schedule payments. Cancel scheduled payments. Get transcripts. View or create payment plans. See digital copies of some IRS notices. View key data from their most recently filed tax return, including adjusted gross income. Validate bank accounts and save multiple accounts, eliminating the need to re-enter bank account information every time they make a payment. View, approve and electronically sign power of attorney and tax information authorizations from their tax professional. 
Are you trying to amend your return?  If so, after you start the amend process you can go back and edit the W2.  Be sure you started the amend process first and the balance due or refund has reset to... See more...
Are you trying to amend your return?  If so, after you start the amend process you can go back and edit the W2.  Be sure you started the amend process first and the balance due or refund has reset to $0. When it does go to Income>>then select the W-2 that you received the correction for and then just edit the numbers that were corrected.   Basically use the old W-2 and change the corrected entries. 
Direct institution to institution rollovers from one retirement account to another retirement account of the same type are not taxable and should not change your return bottom line at all when they a... See more...
Direct institution to institution rollovers from one retirement account to another retirement account of the same type are not taxable and should not change your return bottom line at all when they are included.  An amended return is not necessary in this situation.  Keep the Form 1099-R with your tax documents in the unlikely event that the IRS contacts you about why the rollover was not reported.     If you actually received the distribution in hand and deposited the funds into the other account, then you do need to amend your return to report this rollover.  Otherwise, it is not clear what was done with the money.   Do not include the 2024 Form 1099-R as part of your 2025 tax return.        
Yes, you should.  If you are amending your return, you need to send the corrected 1040NR attached to the Form 1040X.  They would need to be mailed.     The refunds will not be the same on the nonre... See more...
Yes, you should.  If you are amending your return, you need to send the corrected 1040NR attached to the Form 1040X.  They would need to be mailed.     The refunds will not be the same on the nonresident returns you will need to file.   You can use the steps here below to amend from 1040 resident return and file a correct 1040NR (nonresident return).    You will need to have your correct tax return prepared as a 1040NR.   Please visit the TurboTax/Sprintax site for guidance.     Print your 1040NR in Sprintax; do not e-file it..  You must mail the 1040NR along with the amended return Form 1040X.      To amend and file the correct return, do the following:      Enter your name, current address, and social security number (SSN) or individual taxpayer identification number (ITIN) on the front of Form 1040X.   Don’t enter any other information on page 1.  Also, don’t complete Parts I or II on page 2 of Form 1040X.   Enter in Part III the reason why you are filing Form 1040X.    Complete a new or corrected return, Form 1040NR,   Across the top of the new or corrected return, write “Amended.”    Attach the new or corrected return to the back of Form 1040X.     **Make sure you check the box to show the tax year that you are amending on Form 1040X.      Form 1040X   1040X Instructions 
No. Each year is independent of each other so there is no need to amend in order unless you have things that will carry-over to another year.   If you want to make changes or add a document to a ta... See more...
No. Each year is independent of each other so there is no need to amend in order unless you have things that will carry-over to another year.   If you want to make changes or add a document to a tax return that has already been filed and accepted by the taxing agency, you should follow these guidelines.    You must first wait until the initial return is completely processed. You will have to use the same TurboTax account that you used for the original tax return. Once you begin your amendment, you'll see your original return. The refund calculator will start new at $0 and only reflect the changes in the refund or tax due Only make changes to the areas of your return that need to be corrected. You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment Select your product below and follow the instructions.  Amend TurboTax Online  Amend TurboTax CD/Download 
It’s say it was completed last 2024 but I haven’t received my amend returns. Can I file another new Amendment for this? 
What you owe is on your Form 1040. Your payments was due April 15th.   @barbjplummer 
Are you saying you are not able to print all forms and government worksheets?
For 2024 turbo tax combined my short term and long term proceeds all in the short term pat 1. To make the bottom line match, a turbo tax specialist had me adjust $888,106. My gain would not change b... See more...
For 2024 turbo tax combined my short term and long term proceeds all in the short term pat 1. To make the bottom line match, a turbo tax specialist had me adjust $888,106. My gain would not change but it looks weird to have that large of an adjustment in column G of part 1. Turbo tax failed to fill in part 1 line 2. Filing an amended form would make it look correct as it is in error. The issue is I still owe the same tax and that would not change. Not sure what to do
If I need to amend for multiple years, do I need to amend in order - 2022, 2023, 2024?
I have a primary house which I live there 5 months and rent 7 months. When I use turbo tax, it is only applied schedule E, not schedule A. Therefore, all deductions are only applied on schedule E. Sh... See more...
I have a primary house which I live there 5 months and rent 7 months. When I use turbo tax, it is only applied schedule E, not schedule A. Therefore, all deductions are only applied on schedule E. Should I amend it?