topic 1040X in After you file

1040X

kalamay45 — Wed, 22 Jul 2020 14:36:17 GMT

I am amending my 2019 tax return by adding interest income of $639. Turbo Tax came up with an additional tax due of $2837. How is this possible? I have already sent in my payment for the tax return filed in April. Is it adding estimated taxes due for 2020 also? Please reply, thanks for your attention.

Re: 1040X

Critter-3 — Wed, 22 Jul 2020 15:28:02 GMT

Best thing is to LOOK at the amended return to see what changed and why ... it is possible that this additional income affected refundable credits like EIC.

Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.

If you completed it correctly you will see an entry on either line 16 OR 18:

On line 16 should be the amount you paid with your original return.

On line 18 should be the amount of your original refund you received.

Then you will see your extra refund on line 22 OR the new balance due you need to pay on line 20.

Re: 1040X

kalamay45 — Mon, 27 Jul 2020 15:29:16 GMT

The amounts in column A do not correspond to my filed return. I only added $639 to my income but the net change showed 17,867. It did not show the amount I paid already and tax due of $2837. I have double checked everything and I can't figure out why I got the wrong numbers from TurboTax. I'll just do a 1040X manually.

Re: 1040X

Critter-3 — Mon, 27 Jul 2020 15:41:17 GMT

If the amounts in column A are not the same as on the filed return then you did not start the amendment process correctly ... you can delete the amendment and start again only when you have the return back to the originally filed amounts ... or you can do it by hand.

How do I cancel or undo an amended return in TurboTax Online?

If you started amending your tax return by accident and would like to cancel the amendment:

Open your return if it’s not already open.
In the left menu select Cancel amend.
Select Yes, I want to cancel my amended return.