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Louise1930
Returning Member

Overpaid taxes in 2020

In 2021 my accountant passed away so I the firm that took over his clients did my taxes and they made a mistake that cost me $5000 for 2020 tax year. I used TurboTax for the first time for my 2021 tax year. How can I get this money back? Can I do it through TurboTax or should I get another accountant to file an adjustment?

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3 Replies

Overpaid taxes in 2020

You need to amend 2020?  It would be hard to amend if you didn't use Turbo Tax.  I would go back to them or a local place.  They should amend for free if it was their mistake.

Overpaid taxes in 2020

If a big mistake was made on your 2020 return then the accountant who prepared the return should prepare an amended 2020 return in order to correct the mistake.  Or....seek paid help from another accountant. 

 

 I do not recommend this as a "do-it yourself" project using TurboTax, but.....

 

CAN I USE TURBOTAX TO AMEND IF THE RETURN WAS PREPARED SOMEWHERE ELSE?

If you did not use TurboTax to prepare your tax return, it is possible to amend the return using TurboTax but it will really be a pain.  It would be better to use the software or service used to file originally.  If a paid preparer made a mistake on your tax return, that tax preparer should do the amended return for you at no charge.

In order to use TurboTax to amend your return, you need to purchase the desktop software for the tax year and re-create the return EXACTLY as it appeared when it was filed with the IRS/states.  Every line has to be the same.  Then you have to "trick" the software into thinking you filed by saying you will mail the return. (but do not mail it)   AFTER that, you use the software to prepare a Form 1040X, which has to be printed, signed and mailed to the IRS.  It takes the IRS about 3-4 months to process an amended return

**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.**
Louise1930
Returning Member

Overpaid taxes in 2020

Thank you

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