topic Not able to amend a return for tax year 2020? in After you file

Not able to amend a return for tax year 2020?

HerbieK — Mon, 15 Mar 2021 12:49:51 GMT

When I filed my return for 2020 in February, I discovered that a 1099 was duplicated and caused my income to be double. I discovered the error immediately when a payment voucher printed, and attempted to amend the return.

I am still unable to amend this return, as TurboTax says the IRS has not yet updated the forms to amend a 2020 return. In the meantime the stimulus bill passed, and I will not receive the $5,600 due to the error. Instead of a $5,300 refund I am faced with a $10,700 tax bill.

I talked to a tax professional who said he could e-file an amended return for me (at a cost of $200). I don't want to do that since I already paid for Turbotax.

When will Turbotax be updated to allow a tax year 2020 return to be amended? This is important!!!

Re: Not able to amend a return for tax year 2020?

DoninGA — Mon, 15 Mar 2021 12:51:31 GMT

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

Re: Not able to amend a return for tax year 2020?

HerbieK — Mon, 15 Mar 2021 13:47:58 GMT

Thanks for the quick response. However, the return I need to amend is for the tax year 2020, not 2019. When you try to do that, it says that the IRS has not yet updated it's forms to amend a TY 2020 return. That's why I inquired as to when Turbotax will be updated. I have a tax payment of $10,613 due April 15, and I do not owe the money. It takes soooo long for the IRS to process an amended return that I need to get things started ASAP.

Re: Not able to amend a return for tax year 2020?

DoninGA — Mon, 15 Mar 2021 13:57:05 GMT

@HerbieK wrote:

Thanks for the quick response. However, the return I need to amend is for the tax year 2020, not 2019. When you try to do that, it says that the IRS has not yet updated it's forms to amend a TY 2020 return. That's why I inquired as to when Turbotax will be updated. I have a tax payment of $10,613 due April 15, and I do not owe the money. It takes soooo long for the IRS to process an amended return that I need to get things started ASAP.

Sorry, the link has changed...This is the correct link for amending a 2020 tax return - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/01/27439

Re: Not able to amend a return for tax year 2020?

HerbieK — Wed, 17 Mar 2021 16:52:04 GMT

I thank you for your help.

I contacted the IRS to inquire about how to go back and request the Economic Impact Payment. According to the person I spoke with, once the amended return is processed it is possible to go to IRS.gov/RRC and file for the stimulus payments. They said it could be e-filed. Hopefully this will be the case!