How to correct a mistake in 2021 taxes

[Kcoffey3000]

I discovered that I made a mistake in my 2021 personal taxes that will probably cause additional taxes due. How should I correct this?

[VolvoGirl]

You should not amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.  

How to Amend

https://ttlc.intuit.com/community/amending/help/how-to-amend-change-or-correct-a-return-you-already-...

[xmasbaby0]

What was the mistake?   If you made a mistake with the 3rd EIP, do nothing.   The IRS will correct your mistake and reduce your refund accordingly.  You do not amend for this.   If you made some other sort of mistake, please explain so we can be more helpful.    You might need to prepare an amended return on a form 1040X AFTER your original tax return has been fully processed.

[Kcoffey3000]

I claimed a deduction for child care when I should not have. I had taxes due and made the payment on April 15. Removing the deduction will increase the taxes due. 

It sounds like I need to do some kind of amendment? Is that right? Does TurboTax have that capability?

[maxthetax]

The same will be true if you claimed the incorrect amount of Advanced Child Tax Credit.

[STaxLady]

Yes, @Kcoffey3000 you are correct!

You will need to amend your tax return and it can be done with TurboTax.

If you filed your original return using TurboTax! The following TurboTax article provides great information on amending your taxes. If you used TurboTax to file the original return, what you are looking for is in the last paragraph.

https://turbotax.intuit.com/tax-tips/amend-return/how-to-correct-federal-tax-returns/L67t0F7il 

Amend your taxes and pay any additional balance due as soon as possible to minimize the amount of any penalty and interest that will be due.

I hope that this answers your question, Kcoffey3000.

Let us know if you need anything more.

[LisaS]

Just to clarify - if you claimed dependent care (you would see a form 2441 in your pdf of your tax return) but did not have dependent care then you will need to amend to correct the return.

TurboTax does support that and even supports efiling the return. It looks like some already posted the how to link but here it is again:

https://turbotax.intuit.com/tax-tips/amend-return/how-to-correct-federal-tax-returns/L67t0F7il

You want to amend the return as soon as possible to minimize any interest the IRS may charge you for late payment of taxes.

Also, be sure to check your state return to see if it also needs to be amended.