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If I received a 1099misc for prize winnings after I filed my tax return (did not include the winnings on my return), what should I do?
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If I received a 1099misc for prize winnings after I filed my tax return (did not include the winnings on my return), what should I do?
UPDATED FOR TAX YEAR 2019
You will have to amend your return to include the prize winnings.
If you have already filed your return, you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your return, change your income, and re-submit your return.
If your return is accepted, wait until you’ve received your refund (or your payment has been processed). THEN you can prepare an amended tax return and mail it in. You cannot e-file an amended return.
DO NOT go in and start changing anything on your return now, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
Please see the instructions contained in these TurboTax Help articles to amend your return:
- How to amend (change or correct) a return you already filed
- How do I amend my 2019 TurboTax Online return?
[Edited | 3/19/2020 | 9:47 am PDT]
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
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- Permalink
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If I received a 1099misc for prize winnings after I filed my tax return (did not include the winnings on my return), what should I do?
UPDATED FOR TAX YEAR 2019
You will have to amend your return to include the prize winnings.
If you have already filed your return, you have to wait until the IRS either rejects or accepts your return. If your return is rejected, you will be able to go into your return, change your income, and re-submit your return.
If your return is accepted, wait until you’ve received your refund (or your payment has been processed). THEN you can prepare an amended tax return and mail it in. You cannot e-file an amended return.
DO NOT go in and start changing anything on your return now, or you will make a mess for yourself. Sit tight and wait until you see what the IRS does with the return you just e-filed
Please see the instructions contained in these TurboTax Help articles to amend your return:
- How to amend (change or correct) a return you already filed
- How do I amend my 2019 TurboTax Online return?
[Edited | 3/19/2020 | 9:47 am PDT]
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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