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How to enter a corrected 1099 misc

Forum|Forum|6 years ago
June 5, 2019
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Retirement relied fund issued a 1099-Misc in error and then sent a CORRECTED 1099-Misc showing all zero's. The amount was correctly recd and entered on a 1099-R form. How do I enter the 1099-Misc showing a dollar amount and then enter as a CORRECTED 1099-Misc with NO dollar amount?

TurboTax Deluxe Online

Best answer by WillK

If you haven't filed, you just need to report the corrected 1099. The IRS will get the same copy and will know that the original 1099 is incorrect.If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected you are able to login to your return to fix what you need to fix and fix the errors that caused the rejection and refile the return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.

Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.
Amended returns have to be printed and filed by mail. It can take the IRS up to 12 weeks or longer to process them. If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it. If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. You can check the status of your amended return by clicking here: https://www.irs.gov/filing/individuals/amended-returns-form-1040-x-/wheres-my-amended-return-1

Click here for amending instructions: https://ttlc.intuit.com/replies/3288565

W

WillKAnswer

Employee

If you haven't filed, you just need to report the corrected 1099. The IRS will get the same copy and will know that the original 1099 is incorrect.If you already filed your return you will need to wait to see if it was rejected or accepted. If they were rejected you are able to login to your return to fix what you need to fix and fix the errors that caused the rejection and refile the return. If your returns were accepted, then you will need to file an amended return. You should not try to amend your return until the original return it has been fully processed and you have received your refund or your payment has cleared.

Amended returns do not “catch up” to your original return and replace them; they are processed as two separate returns.
Amended returns have to be printed and filed by mail. It can take the IRS up to 12 weeks or longer to process them. If you are due a larger refund than on your original return, your amended return should only show the difference and you will receive a separate check for it. If you owe money on your amended return, it will show only the new amount owed, you will have to mail a check with the return. You can check the status of your amended return by clicking here: https://www.irs.gov/filing/individuals/amended-returns-form-1040-x-/wheres-my-amended-return-1

Click here for amending instructions: https://ttlc.intuit.com/replies/3288565

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LarsB

What if I downloaded the original 1099 over the internet, and before I file the return, I get a notice that there is a CORRECTED 1099 - if I download the CORRECTED 1099, is TurboTax smart enough to replace the original, or will it just add the CORRECTED version forcing me to manually delete the original 1099 (and how would I do that)?

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turbogroh

I have same issue as Lars. I am using Premier online, have paid and printed out return but NOT filed would like to redownload corrected1099 to correct my return should not be such an obstacle??? thanks if anyone has solution.