topic Re: Cannot amend a 2020 return due to IRS? in After you file

Cannot amend a 2020 return due to IRS?

FireFromSkye — Sat, 06 Mar 2021 23:21:20 GMT

I just transmitted my return and the next screen said I now have to mail in Form 8453. TurboTax did not warn me about this until after I transmitted my return. Not cool. But anyway, I realized it's because I elected to submit a summary of each sale category from my 1099-B instead of listing out each transaction individually, and one of the transaction happened to have a disallowed loss due to a wash sale (worth a whopping $2). I went back in to submit an amended return (1040X) and got a screen in TurboTax that said the IRS is still working on its 1040X area.

So I have 2 questions:

1) Are we really not allowed to file a 1040X by the IRS right now? If so, how long until that opens up?

2) Can I even file a 1040X if the only reason is to list out individual sale transactions, so that I don't have to mail Form 8453? Or did TurboTax drop the ball and I am now locked into having to mail that form along with some attachment that it's asking for?

Thanks!

Re: Cannot amend a 2020 return due to IRS?

FireFromSkye — Sat, 06 Mar 2021 23:37:01 GMT

Actually I just checked the IRS website and it says e-filing is available for amending 2020 returns. So what gives?

https://www.irs.gov/forms-pubs/new-information-for-form-1040-x-filers

Re: Cannot amend a 2020 return due to IRS?

MaryM428 — Sun, 07 Mar 2021 02:34:10 GMT

TurboTax will have amendment efiling available on March 25. After the IRS releases the documents, TurboTax has to update the programming so that it will function for the amendment.

You do not have to amend in order to submit Form 8453. You can go back into TurboTax, print the form and mail it to the IRS.

To get back into your online return, sign into TurboTax on a browser. Click the button that says Add a State. It will not add a state, but will let you back into your return. If your 8453 is available you can print your return to a pdf and then print a hard copy of the 8453 and mail it to the IRS.

To print a form, you will go to Tax Tools, Print Center and select the options you need.

If you need to make changes to the return it is best to wait until the amend function is available make the changes asa a amend. You will not have to print and mail the amend, but it will keep your information correct.
Form 8453

Re: Cannot amend a 2020 return due to IRS?

FireFromSkye — Sun, 07 Mar 2021 02:43:11 GMT

Thanks. I do not want to mail anything. Hence the question. Turbo Tax did not warm me that I have to show individual transactions or face the mailing requirement until after I transmitted the return. It's a silly reason to have to mail something. I have all the info I could've put into the software if I knew I had to.

If I amend my return to have individual transaction data, will I no longer be required to mail that form?

Re: Cannot amend a 2020 return due to IRS?

DianeW777 — Sun, 07 Mar 2021 15:56:49 GMT

You can choose to amend it, however if you have the transaction data in a reasonable format here is the information to mail it now (see below).

First use the instruction provided in the links below before you start the amendment process AND if you have already mailed an amended return you start with that as though it was the original return.

How to amend (change or correct) a return already filed (and accepted at the IRS)
- Review the information here to be sure you need to amend your return.
Steps to amend my 2020 return

After e-file acceptance mail your statements along with Form 8453 to:

Internal Revenue Service

Attn: Shipping and Receiving, 0254

Receipt and Control Branch

Austin, TX 73344-0254

If you need a blank Form 8453, you can download this pdf, enter your address information and check the box for Form 8949 (this form is really just a cover sheet).

If you have excel type sheets you can reorganize and auto calculate for your totals. This is perfectly acceptable to the IRS. It does not have to be Form 8949, only a similar statement with the transaction data.

Re: Cannot amend a 2020 return due to IRS?

FireFromSkye — Sun, 07 Mar 2021 22:15:35 GMT

I'm confused by this reply. How can I have already amended my return if turbo tax isn't allowing me? I'm just asking if I wait until turbo tax let's me amend the return, and I amend it with individual transaction data (vs summary that turbo tax let me do without warning that there will be a mailing requirement), will I then be off the hook from having to mail anything?

Re: Cannot amend a 2020 return due to IRS?

MaryM428 — Sun, 07 Mar 2021 23:17:53 GMT

If you select the option to enter a summary of stock sales and you efile, then Form 8453 will be included in your tax return so that you can print and mail it.

Amending with TurboTax will be available on March 25. If you amend and enter individual transactions instead of a summary, then you will not need to mail the Form 8453.