In preparing my 2024 taxes in TurboTax I found an error in my 2023 deductions claimed. I did a typo for mortgage interest paid. Instead of 29,990.00 it should have been 2,990.00. This reduced my federal taxes refund by 1,295. So I need to file an amended return and pay the Fed’s $1,295 and the state 371.
When I open TurboTax and select to process an amended return the state indicates I owe them the correct amount of $371 but it shows a refund from the feeds of an additional 206 dollars. I know that is not correct because I have created a new TurboTax file using the correct deduction and it tells me the amount I should have had refunded me and it is $1,295 lower than what they gave me.
So now what do I do.
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When you are in the return that shows a refund, did you do the amended return first? Meaning did you hit Amend My Return and then go into it?
If you did NOT, then this would have likely been your original refund if everything would have been correctly entered the first time. On the other return, if you hit the amend button the amount you owe would be the return of the refund you received erroneously and the amount you actually owe.
Yes I opened TurboTax and selected amended return then selected the 2023 tax return and proceeded from there. The state amount of over refund was correct but the fed showed an additional refund. I actuate opened the original return and renamed it then calculated the overpayment with the correct mortgage interest.
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