Amended Return

[Donna019]

I electronically submitted a Federal return  1041 on 3/6/22 for a trust and then found out a day later that the 1099R was incorrect and the company is issuing me a  new one in 3-5 business days.  I tried to go into TT to amend the return since I already know the amended amount and it said I already filed and there was nothing to file at this time.   How do I electronically file an amended federal return - 1041 ?   I clicked on amended return but that did not seem to make a difference.  Thanks

[JillS56 · Accepted solution]

"How to file an amended form 1041"

An amended Form 1041 is not like an amended 1040; there is no "Form 1041X".

You simply check the "Amended return" box in Item F, change the figures (or any other information) that need(s) to be changed, and provide a statement explaining the lines that were changed. 

TurboTax Business will check the "Amended return" box for you and present an statement where you can explain what you changed from the original return you filed.

You are not able to e-file an Amended 1041 and this will need to be paper filed.   This link will tell you Where do I file my Amended 1041.

After you prepare the amended return,  you can compare to the original return filed to make sure the changes are showing in the return.  It may be possible that the additional 1099-R did not make any difference in the outcome of the return.   If there is no change, you do not need to file the amended return.   Just keep the 1099-R with your tax documents in the event the IRS contacts you about the 1099-R.   

NOTE:  Be sure to wait until you know the original return has been processed by the IRS before you amend the return.  Filing an amendment too soon could resulting delays in the processing and refund on the tax return.