Question

Amending my 2020 Return

Forum|Forum|5 years ago
March 9, 2021
3 replies
0 views

After I e-filed, and my return was accepted, I realized that I made an error entering my 2020 social security income and under reported it. So I owe the IRS about $2800 more in taxes. I want to amend the return before April 15 to avoid paying any tax penalty. But when I try to do so, Turbo Tax says this area is not ready yet.

When will Turbo Tax be ready to file 1040 X returns for 2020?

DoninGA

Employee

If the return is accepted you will have to amend your original tax return. An amended return, Form 1040X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.

Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.

See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax online editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-turbotax-online-return/01/27577

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

H

heiresntAuthor

My payment was process, but will wait until March 25 when the 1040X is available. Thanks

MaryM428

Amend will be available in TurboTax in late March. Do not attempt to amend until the function is available. It is best to wait until your current return has been processed before filing an amend.

You generally must file an amended return within three years of the date you filed the original return or within two years after the date you paid the tax, whichever is later.

N

Noble1

[Message removed due to personal information]

J

JotikaT2

If you have a specific question, please comment so we can assist you.

If you are trying to amend your tax return, please see the link below for additional steps to help you.

Steps for amending a tax return

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H

heiresntAuthor

I successfully e-filed and amended return for 2020 in late March amending an error I made in entering social security income.

Now I got an amended 2020 W-2 on imputed income for a life insurance policy on May 4, 2020.

When I try to amend the last return filed (then amended return), Turbo Tax is not picking up the additional payment I already made on the first amended return.

Is Turbo Tax able to amend and amended return and capture the additional payment I already made? If so please advise how to do this because I have tried several times and cannot do it?

OR do I indeed file the amended return showing the additional amount owed and just subtract the amount I already paid on the first amended return?

Help please. I am tempted to just let the IRS deal with it and hit me with a penalty as the additional tax owed is only about $700.

KathrynG3

Before trying to amend the amended return, make sure that the IRS has received the first amended return. Check here: IRS's Where's My Amended Return?

Once it has been received, then complete the amended return. As you proceed through the interview, there should be a time to enter the paid amount if it does not automatically carry. To check what was reported as paid , see: Form 1040-X, Line 16, which should include the amount submitted with the first amendment.

To download your 2020 tax returns, follow these steps:

From the left menu, select Tax Home.
Scroll down to Your tax returns & documents and Show.
Select 2020.
Navigate to the option to download the PDF of your return.
- The forms are named in the top left and lower right hand corners of each page.