1058251
So I asked someone else already but yesterday I filed my taxes and e-file my taxes with turbo. Today I got MISC-1099 forms in the mail and now I nedd to file those. The advisor said now I have to see if the IRS rejects or accepts my refund. Then I need to do a tax ammendment to add the 1099 forms. They explained to me that it will take some time so my question is: Would it be okay to just claim my MISC1099 forms on next years tax returns?
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No. Generally you will need to claim all income received in the year it was received. You cannot carry income over to the next year.
Here are the steps to Amend:
If you have already filed and have now received an additional 1099-Misc or other information:
If it is rejected, you can simply add the additional 1099-Misc and efile your return again.
If it is accepted and is missing information, you will need to amend your return. Please note that Form 1040X (Amended tax return) will not be available until after 2/12/2020.
To Amend your return in Turbo Tax Online follow these steps:
1. Sign in to your Turbo Tax Account
2. Scroll down to Your tax returns and documents and select Amend (change) 2019 return, then Amend using Turbo Tax Online.
3. Select the reason you are amending and Continue
4. Answer the questions about your Federal return then begin amending your State return when it says "Lets get started on your state taxes...." (Please note that you only need to make changes to the areas needed - ie adding the additional 1099-Misc - you will not need to change any other areas of the return.
To Amend your return in Turbo Tax Desktop;
1. Open your tax file you need to amend and select Online and Check for Updates.
2. Go to the Federal Taxes tab (or the Personal Tab, if you are using Home & Business) and select the Other Tax Situations Tab.
3. Scroll down to Other Tax Forms and Select Start next to Amend a return.
4. Answer the appropriate questions for the State and Federal Returns.
It does take up to 12-16 weeks for more for Amended returns to be processed.
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