Question

Amended tax amount

Forum|Forum|5 years ago
October 16, 2020
2 replies
0 views

Is the amount that ends up on an amended tax the real amount or does it have to be added to the original tax return

Look at the form 1040X …

Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.

If you completed it correctly you will see an entry on either line 16 OR 18:

On line 16 should be the amount you paid with your original return.

On line 18 should be the amount of your original refund you received.

Then you will see your extra refund on line 22 OR the new balance due you need to pay on line 20.

And do NOT amend the return before you have received the original refund !!!

VolvoGirl

Employee

You will still get the refund from the first original return or still need to pay the first tax due. In fact you should not even amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.

Then the amended return is only for the difference you get back or owe. I think the cover sheet shows what the original return WOULD have been if you did it right the first time.

Go by the actual 1040X. Line 18 should be your original refund amount and line 22 should be your additional refund. If you paid on your original return it will be on line 16. If there is an amount owed with the amendment, it will be on line 20.

If you have a tax due, do not send the 1040V. Just include a check with the 1040X. Ignore the 1040V. That is for the original return or what the original return would have been if it didn’t need correcting. Don’t pay the amount on the 1040V. Pay the amount on the actual 1040X.

J

jenrosebudAuthor

Unfortunately I already filed the amended. I did the original yesterday. So for example on the original I was supposed to get back 367 for Federal and the new amended amount was 718. For state...I owed 905 and on the new amended I get a refund of 120. My concern is the state. Am I still supposed to pay the 905 (which I already paid 500 back on July 15 with an extension) and then they will send me the 120. Or is the 120 now the amount that I get back and don't have to pay anymore and should expect my 500 back from July. Hopefully I explained that correctly

Critter-3

Well the IRS will need to work out the kinks if they even do accept the amended return for processing. Expect the amended return to take 4 to 6 months to process after the original return processes (could be 3 months or more).

Using the same info for the fed 1040X look at your state's form ... was the balance due & payment with extension taken into consideration ?