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February 28, 2020
Question

Amend Information on my Schedule C

  • February 28, 2020
  • 1 reply
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My wife and I filed a joint tax return. Unfortunately, our "Tax Pro" at HRBlock put my wife's name and social under Schedule C instead of mine. He insisted it wouldn't be an issue with the IRS, but I'm more than a little upset about the error and would like to have it amended. Should I have it amended? Do I need to wait until I have received my Federal Tax Refund? Since I filed with HRBlock can I do it myself or with TurboTax? Where should I begin? One thing is for certain, I'm not using HRBlock again.  

1 reply

February 29, 2020

Yes, you can either prepare it yourself using the Form 1040X from http://IRS.gov and the appropriate State return (if applicable) or prepare it in TurboTax.    

 

You do not need to wait until your refund is received.  

 

Here is a link to the IRS form and instructions:   Form 1040X    Instructions for Form 1040X

 

Although you won't be changing any of the amounts on the return, it is important to correct the Schedule C information for Self Employment Tax Purposes.    In Part III of Form 1040X you will need to indicate that you are amending your return; " To correctly reflect the Social Security Name and Number of the Sole Proprietor."    Be sure to attach a copy of the return as originally filed (marked AS ORIGINALLY FILED) at the TOP and BOTTOM of every page,  as well as a copy of return marked AS CORRECTED at the TOP and BOTTOM of the return.   

 

If you choose, you can prepare your amended return in TurboTax, however, you would first have to fill out a new return in TurboTax like you were doing it for the first time and hopefully come out with the same results as your original filed return. Then when it exactly matches what was originally (including the Schedule C error) filed and amounts are the same for every line on the 1040 tell TurboTax you want to file by mail and print out the original return so TurboTax thinks it was filed, then you can do the amended return.    

 

Here is a link that will walk you through the steps to Amend in TurboTax:  How do I Amend My Tax Return?

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