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oogando
Returning Member

Silly Me - 1040-x for self-employed

Hello,

 

I thought I was able to fill my personal tax return and my LLC separate. I do not know where I read this or maybe I read wrong... I filed my personal tax and sent it to federal and state and it was accepted already.  I did not include my LLC (1099-MISC and 1099-K forms).

 

Now, it looks like I need to file the 1040-X form and send it, but I did not do the self-employed version of turbo tax. I have a lot of deductions and to enter. I even carried some deductions from last year to use it this year. (Last year, I did the self-employed and included my personal and LLC)

 

What is the best way to do the 1040-X form for my position? 

Do I need to upgrade to self-employed turbotax to file the 1040-X to include my LLC, deductions and the deductions I am carrying from last year?

 

Thank you!!

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2 Replies

Silly Me - 1040-x for self-employed

When you amend you will have to upgrade to Self-Employed.  But you cannot amend yet.

 

You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.

 

If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.

 

Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return. 

 

 If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.

 

  Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed

 

The Form 1040X you need will not be available until late February.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
oogando
Returning Member

Silly Me - 1040-x for self-employed

thank you for your fast response and all the great information!

I will wait until it is accepted and deposited or rejected.

Hopefully, they reject it, and I can just add what is missing. 

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