topic Re: Amended Return in After you file

Amended Return

Dros117 — Tue, 30 Mar 2021 01:20:14 GMT

The w-2 I added after my initial filing showed a withheld Federal tax amount of $610.08 but the estimated return I was given was $83 and I was wanting to know why the amount is drastically different? Was my annual income for the year of 2020 after this last w-2 high enough to owe taxes? Was the amending fee over $500 and I just neglected to read the details? If neither I would like to know why the difference is there because I don't know nor understand and can't really afford for this to be the case. Please and thank you.

Re: Amended Return

KrisD15 — Tue, 30 Mar 2021 02:08:00 GMT

Please try to clarify this.

The amended return will tell you what you get refunded IN ADDITION to what was on the original return.

So if the original return showed a refund of 610.08 and the amended return shows a refund of 83, this would be an ADDITIONAL refund.

Is this what you're asking?

Re: Amended Return

Dros117 — Thu, 01 Apr 2021 09:26:32 GMT

Unfortunately that didn't answer my question. The reason I amended my taxes was because I had received another w-2 form after I already filed my taxes. What I wanted to know is why TurboTax showed my estimated return to be $83 on the new w-2 form which I had just filed that showed on the paper I'd be receiving approximately $600 from the federal tax section. I never filed this w-2 so I don't understand why the estimated return shows $83 instead of potentially $600 unless I made too much money last year with it included. Hopefully this clarifies my question.

Re: Amended Return

BillM223 — Thu, 01 Apr 2021 22:45:02 GMT

When you first file your return with one W-2, you evidently showed a refund of $610.08.

Then you received another W-2, which forces you to amend your 1040 by filing a 1040-X.

This new W-2 declares its own income and withholding, which, when added to your 1040, might result in owing tax or getting a larger refund.

NOTE, the W-2s are not filed separately, they are both integral parts of your single 1040 return.

If, when you did the amendment process, TurboTax said that you get a refund of $83, then as Kris said, this is an additional refund on top of the $610.08.

Are you asking why your second W-2 didn't give you the same refund as the first W-2? It's because the two W-2s are not done separately. Instead, they are added together, increasing your income.

This creates the possibility that the amount of tax that is assessed is larger. There is no reason why the second W-2 should give you a refund as large as the first one (although there may be cases where it gives even a larger refund). But it didn't in your case.

Just to be clear, if you have already filed with the first W-2, then you will get the $610.08 refund...and after you file the 1040-X (assuming that I have the story straight), you will also get an additional $83 refund.

Makes sense?