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amrelnagar89
New Member

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

 
5 Replies
xmasbaby0
Level 15

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

CAN I USE TURBOTAX TO AMEND IF THE RETURN WAS PREPARED SOMEWHERE ELSE?

If you did not use TurboTax to prepare your tax return, it is possible to amend the return using TurboTax but it will really be a pain.  It would be better to use the software or service used to file originally.  If a paid preparer made a mistake on your tax return, that tax preparer should do the amended return for you at no charge.

In order to use TurboTax to amend your return, you need to purchase the desktop software for the tax year and re-create the return EXACTLY as it appeared when it was filed with the IRS/states.  Every line has to be the same.  Then you have to "trick" the software into thinking you filed by saying you will mail the return. (but do not mail it)   AFTER that, you use the software to prepare a Form 1040X, which has to be printed, signed and mailed to the IRS.  It takes the IRS about 3-4 months to process an amended return

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
VolvoGirl
Level 15

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

Do you want to import the crypto?  You can only import it into the Online Premier or Self Employed version.  You can use Online to amend a 2021 return.

 

To amend a return you did somewhere else or you don't have the original.tax file,  you would first have to fill out Turbo Tax like you are doing the original return and pay for it.  You have to recreate the actual wrong original return.  Then when it matches each line that you really filed you have to tell Turbo Tax you will mail it so it thinks it was filed.  Then you can amend it.

 

For the current year you can use the online version by first recreating the original return exactly as filed.  Then pay the fees and say to mail it and print it out so it think you filed it.  Then when it matches every line you can amend.  How to amend an Online return

How to amend (change or correct) a return you've already filed

 

 

fanfare
Level 15

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

@amrelnagar89 

You must have a copy of the original tax return you want to update (or a transcript).

The simplest way is to prepare your correct tax return (using TurboTax for example, or other means, see below) and print it.
Then lay the paper printouts of both returns (correct and original) side-by-side.
You now have all the information needed to prepare Form 1040-X by hand.
It's pretty straight-forward.

The blank form in fillable PDF format and its instructions are available at www.irs.gov.
Refer to the Instructions for what is to be attached to Form 1040-X.

Do not include your old 1040 nor your revised 1040 because the Form 1040-X reflects any changes there and becomes your new tax return.
Mail to the address shown in the Instructions.
There are other tax prep sites on the internet that will do your return again (federal), i.e. correct version, for no charge.

 

fanfare
Level 15

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

@amrelnagar89 

 The other way is to have your accountant prepare your Schedule D and amend.

This will probably cost you more than you already paid for 1040, which you filed too quickly.

SweetieJean
Level 15

Hi, I did my taxes with an accountant before my crypto 1099 was available. Now I want to declare that online how to do it?

did my taxes with an accountant

But did you actually FILE them?  Also, you are asking from TT Live.  Did a TT Live accountant do the original return?

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