When the amend return is required?

kckoo84 — Wed, 06 Mar 2024 15:48:06 GMT

I have late receiving 2020 1099R from Brokerage so entering it on my original 2020 filing makes a change on line 5a. But that 1099R is IRA rollover so despite of the change on line 5a, all the other number not changing including the total tax owed.

In this case, should I amend my 2020 tax return for this change on line 5a ? 1040x will not highlight any delta since the change is only limited to 1040 line 5a.

Re: When the amend return is required?

JohnB5677 — Wed, 06 Mar 2024 16:00:43 GMT

I agree that if this was a 1099-R that resulted in a rollover, the only change will be on line 5a and there will be no additional tax.

So the question is whether to file or not to file the 1040X.

There will be no additional tax or penalty in either case.
The IRS has that 1099-R.
They don't know it was a rollover.
They will question it with an IRS correspondence asking you to explain it.

Since you already have it done, I suggest you mail the 1040X, and save yourself some paperwork.

TurboTax will give you mailing instructions.

Be sure to sign the return. Many people forget that!

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When the amend return is required?

Re: When the amend return is required?