How do I amend my return to fix an an incorrect 2024 tax on lump-sum distributions?
Due to a TurboTax error, some TurboTax customers did not pay the correct amount of tax on their lump-sum retirement distribution. TurboTax was rounding the distribution percentage when calculating the tax. As a result, taxpayers underpaid or overpaid their federal and, if applicable, California tax liability.
If we notified you, we recommend you submit amended federal and, if applicable, state tax returns as soon as possible to avoid additional penalties and interest on the unpaid balance.
Please follow the instructions below to amend your return.
Use TurboTax to amend your federal tax return
Note: If you filed a California state tax return, you will need to amend the federal and state tax returns.
Enter “TO CORRECT TAX ON LUMP-SUM DISTRIBUTIONS” as the reason for amending.
Continue through the state amend if you live in California.
Follow the instructions provided by TurboTax to efile the amended federal and, if applicable, California tax returns. You will also need to remit any balance due.
Save a copy of your amended tax returns for your records.
If you have questions, call 844-333-2161 (Monday–Friday, 5 AM to 5 PM PT) to speak with an expert. Mention 2024 Tax on Lump-Sum Distributions so they know what you’re calling about.
