Question

Add deductible/credit

I just received a dmv deductible amount for 2020. I already filed. Need to add the tax credit of $545.00

You can not deduct the full amount. You can only deduct the fee that is based on the value of your vehicle and you itemize your deductions.

If you already submitted your return you need to amend it to make any changes.

Wait until the IRS either accepts or rejects your return.

If the IRS rejects the return you can claim the deduction in the Deductions and Credits section and re-submit your return.

If the IRS accepts the return, wait until the return has been fully processed and then amend the return.

To amend your 2020 return:

1.Log in to your account.

2.Scroll down to Your tax return & documents (you may need to select Show),

select 2020 and then Amend (change) return.

3.Select Amend using TurboTax Online.

4 Follow the instructions. Don't worry if your refund changes to $0. This is normal on amended returns.

5.You can e-file your 2020 amended federal tax return, but most states require amendments to be printed and filed by mail.

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