Amended NY return

Forum|Forum|4 years ago
March 1, 2022
1 reply
27 views

I filed 2021 and immediately realized I had double entered Fidelity distribution. Original return had me owing approx $2000. Correct filing will get about $900 back. However, TurboTax shows me getting $2900 back as it assumes I paid the $2000. How do I amend without paying $2000?

Best answer by ErnieS0

If you did not pay the $2,000 balance on the original return:

Go back to New York
Keep going until you reach Additional Tax Situations
Update Change (Amend) a Previously Filed Return
Tap Continue on Amended Income Tax Return
Answer Yes or No to Is an amended federal return being filed?
Change the Original Balance Due to $0. The wording here is misleading. TurboTax actually carries this number to line 76 of IT-201-X.

DaveF1006

Level 15

You amendment is prepared correctly. Since, the original return had you owing $2000, you will get that back plus the $900 you should have claimed.

The problem is that since you have to mail the amended return, the IRS may be waiting for it's $2000 payment after April 18. This means you have several options. Mail-in returns get processed usually 6-8 weeks after being mailed.

Mail in payment for the taxes due on the original return. Receive the full $2900 when the return gets processed by the IRS.
Send in the amended return. Include a statement with your return stating to keep the $2000 and then refund you $900. The only problem with this is when the return will be processed. If you receive an inquiry from IRS asking about payment, tell them you filed an amended return with instructions to keep $2000 and refund you the remaining $900.
Make sure you make copies of your original return, amended return, and explanation if these are needed at a later time.

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Landrock13Author

Level 2

The original (incorrect) return was filed with me owing NY $2000. However, I didn't pay (yet) as I realized my error within minutes. The draft amended return shows the (not made) $2000 payment on line 76 of IT-201-X. How do I reflect in TurboTax when I amend NY form that the $2000 payment was not made?

ErnieS0Answer

Level 15

If you did not pay the $2,000 balance on the original return:

Go back to New York
Keep going until you reach Additional Tax Situations
Update Change (Amend) a Previously Filed Return
Tap Continue on Amended Income Tax Return
Answer Yes or No to Is an amended federal return being filed?
Change the Original Balance Due to $0. The wording here is misleading. TurboTax actually carries this number to line 76 of IT-201-X.