Where do I indicate I received the refund on the 1040X?

[nileshdd]

Hey all,

1) 2015 was the first year I filed the taxes in US. As a reason, I had to use TurboTax to prepare the filing, print it out and mail it. I did NOT e-file it.

2) I now need to amend it to include some additional income. As I had not e-filed it through TurboTax, the .tax file doesn't consider it a filed return. So, opening it in TurboTax 2015 desktop for amendment does NOT automatically add the 1040X form.

3) I switched to 'Forms' option and added the 1040X form manually. I am now filling it up manually 🙂

4) In 2015, I had received a refund, which is what shows up on 1040X tax calculation.

5) What I want to do now it to specify

a) New income leading to increased tax - This is easy. (say $4800 tax in 2015 and 200$ additional tax now for total 5000$)

b) Tax withheld (which is more than the tax) - This is easy. (say 7000$ withheld)

c) Calculated refund but I want to show that I already received it - HOW?? (i.e. I have received 2200$ in 2015)

d) Given that I received my refund, IRS doesn't owe me anything but I owe the additional tax. So the final calculation should reflect this exact additional amount I owe. (which is $200)

How do I do this? The fields available on 1040X in the 'Payments' or 'Refund or Amount you owe' are not adding up correctly. I attached the part of the form I am talking abt.

Thanks in advance for any help! The tax amount is low enough that I'd like to avoid going to a CPA and pay more money in their fees than the tax itself. 🙂

Nilesh

[AnthonyC · Accepted solution]

The refund amount you already received should be placed line 18 for "Overpayment, if any, as shown on original return or as previously adjusted by the IRS" (if you have any trouble entering it directly, then you may need to put that on Line A under Original Return Overpayment Smart Worksheet first to get it to enter.)

So, using your numbers, your new numbers should be:

Line 11 - Your new increased total tax liability - $5,000

Line 17 - Your new total withholding and payments - $7,000

Line 18 - Your original overpayment** - $2,200

Line 19 - (Line 18-Line 17) = $4,800

Line 20 - Amount you owe (Line 11 - Line 19) = $200

**An overpayment is normally just your refund.  But, sometimes people use part or all of their refund to be applied to estimated tax payments, so that is why they use the term overpayment.  If you received all of your overpayment as a refund, then its just your refund.  If you did apply some to ES taxes, then overpayment would be Line 75 on Form 1040 (Line 47 on Form 1040A) 

[nileshdd]

Thank you very much. That was very helpful.