I got a refund from my 2017 taxes. I forgot to add my 401k withdraw to my income. I got a bill from the irs saying i owe. I paid it, plus fees. My Trubotax still says i owe. I need to amend my return to add cryptos i purchased that i also forgot to add. how do i start over so it doesn't say i owe before i even start?
TT never knows what happens after you file, like subsequent payments, so it's always going to show you owe.
To amend prior year return:
If you need to make any changes to your 2020 return that you already submitted, wait until the IRS either accepts or rejects your return.
If the IRS rejects your return, you can make the changes and re-submit.
If the IRS accepts the return, wait until you receive your refund (if you are expecting any), then start amending the return.
To amend 2020 return:
1.Log in to your account.
2.Scroll down to Your tax return & documents (you may need to select Show),
select 2020 and then Amend (change) return.
3.Select Amend using TurboTax Online.
4 Follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.
5.You can e-file your 2020 amended federal tax return, but most states require amendments to be printed and filed by mail.
That’s the problem. It won’t change to $0 because I forgot to claim a 401k withdraw and got a bill from the irs that I paid. It still says I owe. Then when I try to amend my 2018 it says I owe for the same thing.... from 2017... that I already paid.
I would suggest you "Amend" 2017 so the program resets your tax liability to zero.
Choose to paper file that return within the software, but don't mail or file it at all.
Now, when you amend the 2018 return, you should no longer have that issue.
Please click here for how to amend a return you already filed
When I open the program it says “amend 2017” so I assume I’m amending it. How do I get it to reset to zero?
Make whatever changes the IRS had you make, I believe you said you needed to add the 1099R for a 401K withdrawal. Then print it as if you are going to paper mail it. Then start the process to amend for the crypto currency.
What year tax return do you need to amend for the crypto?