topic Amended Return in After you file

Amended Return

sammybananas — Tue, 26 Mar 2024 19:05:28 GMT

I filed 2023 taxes with an amount due to be paid from my bank account. I then amended my return for a student loan credit and e-filed for the refund associated with the credit. Will the original amount that was due still be withdrawn from my bank on the date specified or do I have to arrange for payment. There was a voucher for payment that was printed by turbo tax so not sure what is happening.

Re: Amended Return

VolvoGirl — Tue, 26 Mar 2024 19:14:31 GMT

Yes the original tax due should still be paid. In fact you shouldn't have filed the amended return until the first return was fully processed and the tax due paid.

Then the amended return is only for the difference you get back or owe. I think the cover sheet shows what the original return WOULD have been if you did it right the first time.

Go by the actual 1040X. Line 18 should be your original refund amount and line 22 should be your additional refund. If you paid on your original return it will be on line 16. If there is an amount owed with the amendment, it will be on line 20.

Do not send the 1040V. Ignore the 1040V. That is for the original return or what the original return would have been if it didn’t need correcting. Don’t pay the amount on the 1040V. Pay the amount on the actual 1040X line 20 if any.

Re: Amended Return

sammybananas — Tue, 26 Mar 2024 19:20:57 GMT

Thanks for the info VolvoGirl. Is it still required to send in the paper return (1040x) as specified on the instruction sheet?