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I failed to include taxes paid on Schedule E for oil royalties. Can this be corrected if I filed yesterday?

 
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Accepted Solutions
Anita01
New Member

I failed to include taxes paid on Schedule E for oil royalties. Can this be corrected if I filed yesterday?

Yes, but you would have to file an amended return if your original return is accepted.  If it is rejected, you can just add this info in and refile.

An amended return has to be filed on paper in the mail and it takes the IRS 12-16 weeks to process it.  It does not "catch up" to your original and change it.  You don't wan two separate returns in the IRS system at once because that might slow down the processing of either the original or amended return.  Wait until the original is processed and your refund received  before you mail this one.

Following are instructions on how to amend your return.  Click on the link at the bottom to see the full article.

https://ttlc.intuit.com/replies/3288565

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1 Reply
Anita01
New Member

I failed to include taxes paid on Schedule E for oil royalties. Can this be corrected if I filed yesterday?

Yes, but you would have to file an amended return if your original return is accepted.  If it is rejected, you can just add this info in and refile.

An amended return has to be filed on paper in the mail and it takes the IRS 12-16 weeks to process it.  It does not "catch up" to your original and change it.  You don't wan two separate returns in the IRS system at once because that might slow down the processing of either the original or amended return.  Wait until the original is processed and your refund received  before you mail this one.

Following are instructions on how to amend your return.  Click on the link at the bottom to see the full article.

https://ttlc.intuit.com/replies/3288565

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