Amending Your Income Tax Return – TurboTax Tax Tips & Videos, what is income return.#What

by ,

Amending Your Income Tax Return

Updated for Tax Year 2017

What if you ve sent in your income tax return for a previous year and then discover you made a mistake? You can make things right by filing an amended tax return. And, don t think an amended return will automatically cost you money; it s perfectly okay to change a return to capture a tax break you missed the first time around.

Can I change my federal income tax return?

Once you have dropped your original income tax return in the mailbox or sent it off electronically, you can no longer change that return. (One exception: If your e-filed tax return is rejected, you can make changes before sending it in again.)

What is income return

If you want to make changes after the original tax return has been filed, you must file an amended tax return using a special Form called the 1040X, entering the corrected information and explaining why you are changing what was reported on your original return. You don’t have to redo your entire return, either. Just show the necessary changes and adjust your tax liability accordingly.

You generally must file an amended return within three years of the date you filed the original return or within two years after the date you paid the tax, whichever is later.

Can I use tax preparation software to amend my return?

Yes. TurboTax walks you step-by-step through amending your federal income tax return.

Can I e-file a Form 1040X?

No. The IRS isn’t set up to accept an amended return electronically. You must print it out and send it in by mail.

How do I amend my state tax return?

First, fill out an amended federal income tax return, Form 1040X. Then, get the proper form from your state and use the information from Form 1040X to help you fill it out.

Like the IRS, your state uses a special form for an amended return. Many states also use the X suffix for the form number. For example, California uses Form 540X. Other states do not. The Hawaii form, for example, is Schedule AMD.

Don’t forget to attach a copy of your amended federal return (Form 1040X) to your amended state return, if the state requires it, as is usually the case.

Get every deduction

TurboTax Deluxe searches more than 350 tax deductions and credits so you get your maximum refund, guaranteed.

Looking for more information?

Related Articles
More in Amend Return

Get more with these

free tax calculators and

TaxCaster

Estimate your tax refund and avoid any surprises

Adjust your W-4 for a bigger refund or paycheck

Self-Employed

Enter your annual expenses to estimate your tax savings

Dependents Credit

Learn who you can claim as a dependent on your tax return

ItsDeductible

Turn your charitable donations into big deductions

Documents Checklist

Get a personalized list of the tax documents you ll need

Education Credit

Find out what you re eligible to claim on your tax return

Tax Bracket Calculator

Find your tax bracket to make better financial decisions

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

What is income return


Leave a Reply

Your email address will not be published. Required fields are marked *