2481078
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Form 1098-T

I recently amended my 2020 tax return to include a form 1098-T to receive AOIC. I mistakenly inputted the wrong payment received amount. The number is off by about $200. Will a receive a notice because of this? The refund amount is the same with the error and without. 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Cynthiad66
Expert Alumni

Form 1098-T

@Tax20213 - No.  Since there is no tax difference, you will  most likely, not receive a notice.  IRS has a De minimus adjustment limitation and since this is $0 adjustment to taxes, there should not be a notice issued.

 

I suggest just holding onto all of the supporting documentation with a note of the error so that you can have it for your records, just in case. 

 

Now, there is an option to amend the 2021 tax return to show the correct amount.  If you choose to do so, follow the steps below.

 

To amend a prior-year return, select its tax year below for specific instructions. (Note: the option to amend a 2021 tax return will become available later in the tax season.)

Wait until you receive your refund to amend. If you owe, you can amend e-filed returns if they've been accepted and paper-filed returns after they've been mailed.

Once you begin the amendment process, you'll see your original return. Only make changes to the areas of your return that need amending. The refund calculator will start new at $0 and only reflect the changes in the refund (or tax due).

You have three years from the date you filed your return or two years after you paid the tax due (whichever is later) to file an amendment.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question