topic Re: amending 2023 e-filed return in After you file

amending 2023 e-filed return

dhilman2 — Sun, 07 Apr 2024 21:48:44 GMT

After completing our 2023 1040 and e-filing them, we decided a day or two later too make IRA contributions to reduce the $2200 in taxes that we're going to send in for the return on 4/14/2024. After doing the amendment the tax liability is $0 and we have a small $50 refund. Our question is do we need to send in the 2200 or just e-file this amendment, and expect a small refund after the IRS processes it. It was e-filed about a week ago and accepted. We have already established our IRAs and funded them at this point. What is the recommended thing to do?

Re: amending 2023 e-filed return

fanfare — Sun, 07 Apr 2024 22:22:30 GMT

If you contributed after you filed a return without anticipating the correct reporting, you have to amend.

So far, IRS has no idea what you did.

@dhilman2

Re: amending 2023 e-filed return

dhilman2 — Sun, 07 Apr 2024 23:15:27 GMT

I guess I was expecting that the two e-filed 1040 forms the original and the amended, would catchup to each other by the time it was processed. Maybe that's too much to expect. That's why I'm asking about this I don't know what is usually done in a situation like this.

Re: amending 2023 e-filed return

AnnetteB6 — Mon, 08 Apr 2024 14:17:30 GMT

Here is my thought process. You filed a return with a balance due that did not need to be paid until April 15, 2024. Then, you filed a corrected (amended) tax return that is showing a refund instead of a balance due. The amended return was filed before the due date of your tax return or the due date of your balance due. You should not be expected to pay that balance due since the amended return was filed prior to the filing deadline. Just be sure that the amended return is filed and accepted before the due date of the tax return.

@dhilman2