amending return for Trad IRA contribution not made

Forum|Forum|3 years ago
January 12, 2023
1 reply
3 views

On our 2021 return, my wife just informed me that she actually didn't make the $4000 Traditional IRA contribution that she was supposed to make (in early 2022, before I filed our return). Thus, I need to amend our return, and I am having trouble getting Turbotax to do the right thing.

I fire up Turbotax, go to "other tax situations" and "amend my 2021 return". Under "what do you need to change", I needed to pick "different reason", and then "deductions and credits". So it took me to the part of the interview where you put IRA contributions. I'd originally put $7000 for myself (correct) and $4000 for her (now incorrect). So I removed her $4000, left my $7000, and proceeded.

The 1040 now correctly shows that our AGI is $4000 higher and that our tax bill is about $880 higher. But the 1040-X is completely wrong. It shows the new correct AGI and total tax in Column C, but it shows an amount that's $7000 higher in Column A. I other words, it thinks I amended my return to include my $7000 contribution and that it wasn't on the original return, and therefore I'm due an add'l refund of $1500 or so.

How do I get it to do the right thing ? I'm able to go in an edit the 1040-X to change the amounts in Column A to what the original return showed, but it doesn't seem like a great idea to do it this way.

I guess I could just change the original return to remove the $4000, and then fill out a 1040-X by hand, but I shouldn't need to do that.

Or just wait for the IRS to come after us ...

Best answer by fanfare

Don't file an incorrect Form 1040-X

since you have to file on paper anyway, the simplest path is to get Form 1040-X in fillable PDF from IRS.gov and make the entries yourself.

Do not attach your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return.

Instead attach Schedule 1 showing the correct IRA contribution.

New schedule 1 should be showing in your revised turbotax return.

fanfareAnswer

Level 15

Don't file an incorrect Form 1040-X

since you have to file on paper anyway, the simplest path is to get Form 1040-X in fillable PDF from IRS.gov and make the entries yourself.

Do not attach your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return.

Instead attach Schedule 1 showing the correct IRA contribution.

New schedule 1 should be showing in your revised turbotax return.

RustyShacklefordAuthor

Level 5

Ok, thanks. Well, as I said in an edit I just made to my OP, in Turbotax I was able to change the numbers in Column A of the 1040-X by hand, to look the way they should.

So are you saying the thing I mail in should just be literally two pieces of paper (plus a voucher and a check): the 1040-X, and the changed Schedule 1 (showing $7000 instead of $11000 on Line 20) ?