Already received tax refund but had to make amendment for excess Roth IRA contribution. Is my newly calculated "Federal Balance Due" inclusive of the refund I got?

[IsabellaG · Accepted solution]

Yes, your "Federal Balance Due" is the amount that you owe after your original refund. So it's  the difference between what your refund was as originally filed, and what it should have been when you made corrections.

Keep in mind that you are advised to wait until you actually receive your original refund to file your amended return, so that you can be sure that both you and the IRS are working with the same figures.

[rishirajagarwal]

Thank you! So just to be clear, I already received my refund of $1068 prior to amending. Now that I have amended, TurboTax is saying I owe $10. So I truly only owe $10? Not the refund I received plus $10 (which would be $1078)? Thanks again!

[IsabellaG]

Yes, that's it!