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April 7, 2021
Question

So originally I was due $1677 but after amending it, at the top it says Federal Tax Due $1740. Then I see somewhere that I owe $63 but at the end it still says $1740?

  • April 7, 2021
  • 2 replies
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So what will be deducted from my bank account? $1740 or $63?

2 replies

DoninGA
Employee
April 7, 2021

Look at the amended tax return, Form1040-X.  If you owe taxes on the amended return the amount will be on Line 20.

 

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

Critter-3
April 7, 2021

TOTALLY IGNORE  the refund-o-meter  and LOOK at the actual form 1040X ...  

 

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.