IRS Form 1040-X | How to File an Amended Tax Return
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- Опубліковано 30 чер 2024
- IRS Form 1040X Amended Tax Return Instructions: www.irs.gov/taxtopics/tc308
If you're asking how to amend a tax return, you're in the right spot!
There are many different reasons you might need to file an amended tax return with IRS Form 1040-X: a simple miscalculation on your part or maybe your work sent you a late W-2C, but regardless of the reason I want to help you do it correctly.
While the IRS states that if there is a simple math mistake or even a missing schedule that's required, they might make the corrections themselves, don't leave it to chance. When it comes to taxes, the IRS doesn't play around and an innocent mistake on your part might result in thousands of dollars in fees and fines if you don't correct it.
If you used a tax prep software or a CPA, it should be as easy as providing the correct information and they will fill out the 1040-X for you. But, if you filed your initial tax return by yourself, then that's what this video is here for.
Fortunately filling out Form 1040-X isn't that difficult and you've already have half the information you need to do so from the Form 1040 you originally filed!
0:00 So, You Messed Up...
0:42 Form 1040-X Page 1
7:22 Form 1040-X Page 2
#taxes #amendedtaxreturn #taxreturn
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DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make.
Thank you so very much - simple easy language, great example - :)
I’m glad it helped!
THANK YOU SO MUCH!!!!!!!!!!!!!! Clear, concise, the best video out there for this!
Thanks for watching!
Thank you for taking the time to make this video. It was extremely helpful.
You're very welcome!
Extremely helpful, reduced all my stress, thank you so much
U did an amendment already? Was it for current year 2023
Excellent info! Thank you!
Easy to understand; thank you!!
Glad it was helpful!
Thank you!! This was so helpful!
You are so welcome!
Extremely Helpful!
Glad it helped!
thank you 😊i was so scared before finding your vid. i have dyslexia so have messed up taxes before but i wanted to get the amendment in so i wont get fees this time. i hate taxes
Hello! Thank you for the detail video! I have a question regarding the qualified business income deduction. I have a business loss so I would still add that in the business deduction section correct? It’s confusing with a negative number added…
Thank you for the great tutorial. 2 questions:
1. The numbers on my form 1040-SR of 2021 are right but wrote a check for paying the tax with wrong amount, how to do the amendment?
2. Where to send the 1040-X form to?
Awesome ! What if youre even needing to add new banking info? is there a form for that
Cool educational video - THANX 🎉
Thank you so much, if I forgot to claim refundable credit, should i include the computation form to the return and mark line 15?
thanks a lot this video was easy to undersantd.!!!!
This video content is very useful!! If I forgot to include my 1098-T in my tax filing, which box on the 1040-X should I correct?Thank you!
Hi - On line 3, subtraction would result in a negative value - enter negative # or a zero? Thanks
Excellent Dude Thanks.
you really save me. big thanks
Happy it helped!
Hi, Thank you for your descriptive video. I have a few questions. If there is a nonrefundable education credit under Form 8863, on which line and column(s) should it be entered? And on which line and column(s) should credits for qualifying children and other dependents under schedule 8812 (Form 1040) be entered? Thanks.
Hey thanks for the great tutorial. I have a question:
In my case, income was not reported correctly however, all said subsequent calculations on the form were calculated correctly. IRS sent in their own adjustments sending a much higher refund and I did not cash said check. For line 18, should I put the adjusted amount (IRS) or the original amount I reported? Thanks for all the help
I would go with whatever the correct amount is. I've had the government send too high of a payment/refund in the past and they always make sure to get their money back over time
Thanks for this video!
If I followed your video and the IRS says "we could not match your Form 1040-X, line 1 because you did not include all supporting forms and schedules" what should I do next?
For context I forgot to include all my 1099 freelance income on my 2021 return. Additionally I filed them on the wrong schedule following free tax software.
I amended all of these error on a 1040-X, included my original 1099s & W2s, Schedule SE, Schedule C, Schedule 1, and original return as substantiation. Is there something I missed?
Thank you for easy explanation. i have question regarding Amended Return Filing Status Row. it says you must check one. I am amending from MFS to MFJ, and H&R Block software is checking two boxes on form 1040X (MFS and MFJ box). is that right or I should just check one box MFJ
the best is this video.
Thank you!
once you amend your taxes, will your transcript line items for the income section change? example adding a Schedule E
Thank you for such a valueble information ! My accountant put the wrong number for startup cost amortization. He started counting from the wrong month. Can I amend the return myself by filling out 1040X and attach the correct amortization sheet ? and how do I submit the form ?, or do I have to do it through tax software like Turbotax ? or do I always have to go back to my accountant to amend ?
*The return was for year 2019, which was done electronically.
So you could do it yourself or through your accountant. If you fill it out yourself, then you can mail it in to the location that corresponds with where you live (noted on the instructions).
Your accountant should file it for you since they are the one that messed up. I’m not sure if TurboTax could do it since you didn’t originally file through them
Thank you so much.
You're welcome!
Hi! I really like your video. I hope you can help me with this: I'm submitting 1040x because I wrote my capital loss incorrectly for last year's return. it should be a loss of 13K instead of 4K. Do I have to fill out 6-23? 1-5: is it gonna be the same as my tax return in 2021? Thanks so much!
Hi Sir,
I have filled amended returns 6 weeks back but still not showing up in the IRS amended return tool. Is IRS not updating the tool ?
Great content it answer many questions but I still have one I can’t find the answer, maybe I’m lucky here and someone could answer this; I’m amending 2020 changing only the filing status from HOH to MFJ everything is on the 1040X and also marked the correct filling status MFJ but once on 1040X form I see my AGI only, so my question is am I supposed put on line A my AGI and my husband together or if that something that he IRS will compute once I file if Im only changing filling status. I will appreciate any input or if not clear please lmk I need an answer so bad and the IRS keeps disconnecting my call.
would be nice if you show people how it all ends. like sending it back, what we need to include in the package if mailing or what not.
Call tax advocate services, they can help ❤ God bless
Don't call TRA or PRIORITY TAX relief - they're CROOKS - once they hv ur money - they dont gaf Abt u - UNLESS its to squeeze MORE $$ outta ya!
You're better off dealing & negotiating with IRS URSELF!
Thanks so much for this video! Would you be able to guide me as to where I enter a 1099-G tax form information for UI benefits received please? Much appreciated.
I just found out I earned some interest from the US Treasury, do I combine the interest income into "adjusted grossed income"? How do I know if I need to pay tax for the interest income? Thank you!
How do you make these adjustments if you only need to change the filing status? We haven't received any notice from the IRS.
I have question on the tax liability line 6 is this tax including child tax credit or excluding tax credit ? If it including do I need to mention anywhere else. Please help to get the answer
Great video. I filed online through HRBlock...I could not see all forms until I paid and electronically filed. On the 2021 Recovery Rebate form I saw what looks like an error, because amount is 0 as opposed to $2,800 for filing jointly. This is on a 1040-SR.....any thoughts on this being a software error on HRBlocks end? If so, do I need to file a 1040-X ? If so, what line would the $2,800 go??
Thoughts.......??
If it's an error on H&R Blocks part, then you should be able to input the correct information with them and they should file an amended return on your behalf
Thanks for the video. How does this work if you haven't filed your 2020 return yet?
If you haven’t filed it, then you’ll just file a regular 1040 and enter the applicable tax year at the top. Just be aware of the fines/penalties you’ll be liable for when you file late
Thank you
Thank you so much! If I missed reporting capital loss (
What did you do? I had a loss for 350 dollars. I forgot to add it.
In a situation like mine where I forgot to add a W2, is the information filled out in column B straight from the W2 that was forgotten ? Ive noticed there no cents being used. I don't want to put the wrong info...
Hi I'm a new subscriber and I have a question regarding a tax audit, my common law husband taxes had gotten autied for claiming H.O.H & h&r told us that he needed to file a amendment tax return by changing his filing status to married filing jointly and when I looked up the information it says he can't not legally claim me if we're not legally married please explain to me how I go about fixing this issue also he has been financially taken care of my children & myself since we bee n together for the past 7 years.
hi Brad, if I need tu update the EIC from 0 to a net change, do I add all of that in line 17?? thank you
For line 16, if I have some RSU sold automatically by broker for tax withheld, should I fill line 16 with the value of sold RSU ?
So I sent in my tax return for last year but I forgot to do my deductibles so it came out as me owing. I sent in my amended tax return and I should not owe if it gets accepted and it says it is being processed online. My question is do I have to pay 💰 what I originally owed while I wait for the amended return to be processed? Or do I just wait.
What to do if your tax preparer filed the wrong business code? How do I correct this issues? I don’t see that option on the 1040x form.
I missed filing my 1099Gs from 2020 2021. Can I use this 1040X?
Thank you so much for this tutorial. Recently, I learned from the IRS publication 6209, that the W-2 form is class five. Classfive is a gift and not income according to this IRS publication. How do I place this in the admin meant 1099X form? Please help. God bless you. 2:16
I forgot to add to our original taxes that we had a net gain of $319 in stocks. But, how would I figure out the tax liability for that low of an amount?
I got stuck on line 18. If the taxpayer owed the tax and made a payment based on the original return. Should a negative amount owed be entered on line 18?
What if I didn’t receive my refund do I still need to put that overpayment amount or do I enter 0?
How do I file one with the information on a tax transcript? Our tax lady does not have a copy of the 1040 she filed and the tax transcript is so confusing.
Hello, Sir/ I incorrectly put my son's SSN, and the IRS changed my status to single from head of household.I ended up paying the IRS money that I owed due to the change. Do I put the money on line 16? Your answer would be highly appreciated. Thank you.
Should I include gain/loss from stocks in my gross income? Also if I had a deduction from an employer paid 401k should I had it to the standard deduction (box 2)?
What if, the IRS says I haven't filed my state taxes in 5 years, so I don't have anything to correct, just sending / filing since TurboTax never did it for me. Do I put the same numbers across all 3 columns?
What if you want to amend it by removing a teenager as a dependent?
That should just require you to amend the number of dependents in Part I on the second page
I received two 1099Rs after I had already submitted and received back my tax return. How do I amend? Pretty sure I have to send some of it back to federal and state.
If I didn't get my 1st or 3rd stimulus checks, would I write the amount by line 30 for both 2020 and 2021 forms?
I have been filing my status wrong from 4 years. But I am not sure if I have to amend each year?
I can’t find where I can submit the form electronically, it says on the irs website that’s it’s now accepting electronically
Hi how are you doing ? I have a question I can’t find my 1040 form and I asked my tax preparer and he said he doesn’t have it , how can I fill 1040X without it I need help please.
Quick question. How do I correct 1040 for 2020? I erred in claiming the Recovery Rebate credit of $600.00. How do I correct on the 1040X? Please advise.
They should tell people if they do a amended return you owe the IRS money i owed 73$
Dang
What if line 18 is 0. In other words what if there was no overpayment then what should line 19 be in this scenario?
Also if the refund amount on amended return and original return is same than what happens?
so, how would i fix a mistake on line 35a on my 1040? i mistakenly made it to where i was getting 0$ back, would i need to fill out a 1040-x?
Well, in the 1040-X instruction it says " you can't change ....from MFJ to MFS after due date". My question is : can someone change from Single to MFS after due date? Suppose, I am US citizen and got married in November 2021 in a foreign country and my wife never came to the US and doesn't have a SSN. I filed tax return as single in 2021 because of lack of knowledge and difficulties for filing as MFS online /e-file which doesn't let to file as Married if spouse doesn’t have a SSN. I correctly paper filed MFS for 2022. So I need to correct / change the status from Single to MFS (everything else remains same) for 2021 only. Can I change status from Single to MFS for 2021 by using 1040-X now? Thanks!
So I see several problems with my tax return like the ors crediting me 3500 instead of 3600 for care act credit and leaving off my child dependants ..also who should be on my statements as the deposit from IRS say? Please help me out
so all i did wrong was chose the wrong option for claiming the child tax credit. I mistakenly chose "other dependents. Do i have to do the other categories if there are no other mistakes to fix? No extra W-2's just the child tax mistake.
Hey I made $30,000 from selling solar panels in 2021 and I didn't write anything off. I got a letter from the IRS a few months ago saying I owe $9,600 in back taxes. I came to a payment arrangement to pay that back by April 15, 2024. I called the IRS yesterday and they said I could file a 1040x. The only thing is in your video you say to put everything from "1040" onto column A but my employer does not want to mail me my 1099. Where on the IRS website can I access that ?
I’m an international student on F1 visa. I had no income in 2021 and mistakenly filed 1040 instead of 1040 nr. Do I need to file a 1040X?
For income and deductions how did you get those numbers?
How do i file the amended tax rteturn to get the second economic payment of $ 600 for 2020?
I received a 1099MISC income on 3/20/24 three weeks after electronically filing my taxes. I owe $175 additional dollars. Where do you send the amended paper return and check to?
I accidentally marked that someone can claim me as a dependent. How do I amend that (no one can claim me as a dependent) using the 1040x form? I don’t need to change any values or anything so do I just enter the original values for both columns A and C?
Honestly I'm not sure about that one, for free advice that will be correct I'd give the IRS helpline a call. It'll take a while to get through, but they are remarkably helpful
The IRS give you 3 yrs to submit the form correct?
I owe to irs 30 dollars after I file amended tax return but they already withdraw from my bank account but it’s still showing I owe them 30 bucks in line. 20 in 1040x form is it due to some error or is it something to be concerned about since I already taken that amount from my bank account
For Row 3, Column A: Shouldn't that be 27500 instead of 27400 (Line 1 40050 - Line 2 12550 = 27500)?
Where do you put the advanced child credit amounts on 1040x at line 15 payments
You would select form 8812 on line 15 for advance child tax credits. Is that your question?
Hey bro thanks for your video. I have the same problem but I have to add income from nfts. Do I use the same method and just calculate how much I sold the nfts for. or do I have to add a 8949 form? your advice is greatly appreciated.
There isn’t enough legal guidance on how NFTs are taxed for me to feel comfortable giving advice on that.
Filing form 8949 would make sense to me, but that doesn’t mean the IRS will understand it that way. I would call a CPA in your area to make sure you do it right
Thanks for your response. If it were you would you amend or would you not worry until next year maybe there is more tax clarity. Thanks again.
@@alahanjimenez I would always amend and make sure my tax filings are as accurate as possible, you never want to give the IRS an excuse to fine you
Can I efile my 2020 taxes that was mailed..I mis keyed a social security number
I waited til the last day to file my taxes (my fault) I accidently made a small error and now my refund on my new amended tax form is $1 less than the amount from my original form does this mean when the IRS processes it I will owe them $1?
That's an excellent question and I unfortunately do not have the answer to it. I would hope that the IRS would would send you a refund check for $1 less. But if you've already received it form your original refund, then yes you will probably have to pay the IRS the $1 difference 😐
No changes needed on first page . Need to change ONLY dependent and claim child tax credit. Do I need to change anything on first page if no change and will i get my child tax credit if i only fill out questions on page two?
Referencing page six of the 1040-X instructions, if you are only changing what you stated above, then you'll only need to complete lines 6-23 on the first page in addition to the changes in dependent status on page two of form 1040-X
if we need to put paypal info and dont want to get audit what are best steps while filing amdend tax return
If you're worried about a potential audit, then I would reach out to a CPA in your area to get the best and most specific advice
Thank you for your video first of all.
I have a question though, I filed my taxes through TurboTax this year and realized a few accidental errors that I’ve since corrected (overstated my cost basis for crypto purchases, miscalculated first time around.)
TurboTax has filed the amended Federal return for me, but I need to mail in my state (CA) return. They provided me with the tax documents (amended) and a 1040X form
Before I send these in, do I need to do anything to them? The numbers look filled out, there are a few spots for signatures (which seem to all just be confirming that my amendments are true). Wish I could e-file them like the federal return :/
Thanks for reading, I could really use assistance, I’m kind of nervous about correcting my discrepancies. They were made honestly but I don’t want some big boy audit or anything just because the state hasn’t received my amendments.
Sorry If the amount of advise asked for in this comment is too grand 🤦🏻♂️ this is the last year I do taxes without an accountant.
@@818deadboys I would love to give you a pointer on this one, but I'm not familiar with California taxes and don't want to misdirect you. I would see how much it would cost to get the turbotax live as an add on to have an accountant look over your state filing for you. Sorry I couldn't be of more help
@@APennyPinchersGuide no worries, appreciate the response. Good stuff on this channel 😎👍🏼
@@818deadboys Thanks for the support!
What if you have to file a 1040x to claim a first stimulus? Nothing really needs amended, I just am trying to get my brother his first check he didn't receive. Do I just explain that in the explanation box? Thank you for your time.
That’s a really good question and I think you’re right that you would explain what you’re trying to do in plain English. Unfortunately I’m not sure exactly how that would work
@@APennyPinchersGuide Thank you for answering. I appreciate it.
What happened if you got married in 2022 and you filed your 2022 taxes and mistakenly put down single. But your spouse has an ongoing petition and does not have a social security number yet.
I forgot to add my 1098-T to my federal return. I'm not sure how to do that on a 1040-X?
I had the same issue, my university sent the 1098-T late. So, on Line 15 from 1040-X, you check mark 'other' then put 1098-T. Then add the amount on Column B and C. Hope that helps!
Instead of married my husband filled single because i have no ssn or itin and it didnt let him go through with the process online, could we amend this online or would it have to be done in paper since it didnt let him complete the form before?
Nothing else would change just the status
H&R Block did my amended tax return on 3/25, and I owe the the IRS some $. Can I pay the amount I owe the IRS without getting the confirmation they've received and adjusted it? If it takes 16 weeks, that will be well past April 18 due date. Please let me know. Thanks.
If you’re sending a payment in the mail, it’s considered “paid” based on the post mark date. Is that what you’re asking?
@@APennyPinchersGuide No. Do I need to wait for the confirmation email before I pay the IRS, or can I simply pay send the payment anytime before April 18th?
@@JP5466 you should be able to send the payment at anytime, to get a 100% correct answer I would call the IRS help line (you'll probably have a long wait) and one of their reps should give you the correct answer
Let's say on last year's return that you put in estimated tax payments but you NEVER owned a business, sponsorship, or construction, meaning that it doesn't apply to you. How do you correct that on the amended tax return?
Paying estimated tax payments is something you can always do regardless of whether or not you own a business. If you overpaid taxes then you'll receive that amount back as a refund
but don't you also need to include the original tax return you want to amend with markings of all the fields that need to be corrected? also, don't you need to include all the documents that warrant this amendment? thanks
You are absolutely correct! On page two of the instructions for Form 1040-X it lists all of the documents you need to include when submitting your amended return
@@APennyPinchersGuide for CA state tax return amendment, do you need to include your amended federal return as well??? Thanks
@@bspiderm I want to preface that I am not at all familiar with CA tax laws, that being said, I would assume you need to include your amended federal return as well
Also what is the child tax credit for 2021 ...? As they just skipped that ....what is the first and second economic stimulus.paentni put 5600 I belive that is correct and should be 4800( xs4)....these are rhe simple questions i asked Jackson Hewitt he had a heart attack and his boss said he was acting crazy ...Jim calomhone at big lots location in j.c....is the manager i spoke to he saod it was wrong amd i had to copies of the same return but we only had what they have so wed go based on what they have ..this error was in my favor owed to me I thought it was auto corrected and recoved amd letter stating that from the IRS ..however i have an issue with thos office in j.c. it says 3500 x2 for teo of my.children listed but no actual child dependant Credit thank you for this
Talking waaaay too fast. I received a 1099-C form (cancellation of Debt after AARP filed electronically for me in 2023. They said it would not affect my income tax so they didn't bother correcting it cause it was too late since they already sent my income tax return in. I called the IRS today and a lady said to use the 1040X. I do not know how to fill it out. I would like to get this completed BEFORE the tax season starts for 2023 returns on January 29, 2024. Can someone help me? TY, Marc
Where did he got the $240 from?
I don’t know if anyone can answer this but I forgot to add my sons college expense from the 1098T from 2021,he did pay for books which was over 300,is this a simple amendment I can do in this form?
I would think so, but I have no experience with this specific issue. It may be worth having a CPA look it over depending on how much the expenses came out to be
Why does it take so long? I Sent my amended 2021 return feb 25 accepted same day. It’s been more than 3weeks should I give the irs a call to see what’s going on with my return?
I couldn’t answer the “why” other than to say that’s just how it is 😕
Right now the IRS is really backed up, since it’s been more than 21 days you can give them a call but I don’t know if it’ll speed anything up
it can take up to 4 months
I sent an amended return for 2018 2019 and 2020 on January 31 of 2022.
2019 and 2020 are showing up on the website but my 2018 has not shown up yet. Have tried to set up an appointment at a irs center but have been hung up multiple times due to too many callers at the time. Should i resend my 2018 form?
If you sent it through the mail I wouldn’t resend it yet. Anecdotally, I’ve seen it take over a year to get a refund back from an amended return
@@APennyPinchersGuide ok thank you will wait longer
I have a single-member LLC & just found out I can file my business taxes on my personal forms (Schedule C). Do I show decreases here as qualified business income deductions on the 1040x (amending my original form 1040)?
When you say decreases are you referring to business expenses?
@@APennyPinchersGuide Yes, not much, office supplies/expenses (software).
@@tchims9103 You should be able to do that, just make sure to include you corrected schedule C
how did he in up with 27400 if he subtracted line 2 and 1? that's incorrect right?
Great catch! It should be $27,500 instead
me and my wife file taxes seperatly and the lady who do our taxes mess up this year by putting my son with me instead of her, so we send back difference and adjusted in april 13 2022 and still in process. how long it takes? Cant belive the tax lady mess up so bad🤦🏽♂️🤦🏽♂️ when we do it every year with her!!
I know anecdotally that some amended returns can take up to a year or more to get the proper refund in your account