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I failed to add interest earned from 1099 int of $26.43 and i just e-filed can i fix it

 
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2 Replies
Kat
Level 15
Level 15

I failed to add interest earned from 1099 int of $26.43 and i just e-filed can i fix it

I'm sorry, but once you've e-filed your return, there's no getting it back.  

 

The IRS isn't opening filing season until February 12.  After that point, you should be watching your email for a notification from TurboTax about whether your return has been accepted or rejected by the IRS.  IF, by chance, the IRS rejects your return, you can then add the 1099-INT (and make other corrections) before re-submitting your return.

 

If, however, the IRS accepts the return as filed, you'll need to amend your return.  Typically, it's the end of February before TurboTax has the software ready for amending a return.  I'm linking the TurboTax FAQ below that explains how to amend a return.  Please follow the instructions carefully, as they are quite specific.

 

Additionally, an amended return cannot be e-filed.  It must be printed, signed and mailed to the IRS.

 

How do I amend my 2020 TurboTax Online return? 

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***
AlanT222
Expert Alumni

I failed to add interest earned from 1099 int of $26.43 and i just e-filed can i fix it

You must include all income on your income in the tax year it was received.  

 

Since you have already e-filed, you must wait until your return is either accepted or rejected.

  • If rejected, you can add the 1099-Int as instructed below before resubmitting or paper-filing your return.
  • If accepted (or if you have already paper-filed), you'll need to amend your return to add the 1099-Int.  
  1. Open (continue) your return if it's not already open.
  2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
  3. Answer Yes to Did you receive any interest income?
    • If you see Here's the interest we have so far, select Add interest income.
  4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.
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