To correct information on your TurboTax return, you will generally need to file an amended tax return after your original return has been filed and accepted by the IRS or state. This process allows you to update any inaccuracies or omissions.
How to Amend Your Tax Return Using TurboTax
Correcting your information in TurboTax depends on whether you used the online version or the CD/download product. Here’s a breakdown of the steps:
1. Wait for Original Return Acceptance:
Before you can amend, ensure that your original tax return has been officially accepted by the IRS and any relevant state tax authorities. Attempting to amend before acceptance can cause complications.
2. Access the Amendment Feature:
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For TurboTax Online Users:
- Simply log in to your TurboTax account.
- Once logged in, look for and select the option to “Amend a return that was filed and accepted.”
- Follow the on-screen prompts to make the necessary corrections.
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For TurboTax CD/Download Product Users:
- Sign back into your tax return software on your computer.
- Navigate to and select the option to “Amend a filed return.”
- The software will guide you through the process of adjusting your information.
3. Make Your Corrections:
Once you've initiated the amendment process, you'll be able to go back into your tax return and change any incorrect figures or add missing information. TurboTax will then calculate the changes and show you the difference in your refund or taxes owed.
4. File Your Amended Return (Form 1040-X):
After making your corrections, TurboTax will prepare the necessary amended return form, typically Form 1040-X, Amended U.S. Individual Income Tax Return, for federal changes. State amendments will require their own specific forms.
- Important: Amended returns, particularly federal Form 1040-X, generally cannot be e-filed. You will usually need to print, sign, and mail your amended return to the appropriate tax authority.
Common Reasons to Amend Your Tax Return
You might need to correct your tax information for various reasons. Below are some common scenarios:
| Category | Examples of Incorrect Information to Correct | Impact on Return |
|---|---|---|
| Income | Missing W-2 or 1099, incorrect income reported, forgotten side gig income | Increased tax liability or refund. |
| Deductions & Credits | Forgot to claim a deduction (e.g., student loan interest, IRA contributions), missed tax credit (e.g., child tax credit, education credit), incorrectly claimed deductions/credits | Increased refund or reduced tax liability. |
| Personal Information | Incorrect Social Security Number (SSN), wrong filing status, incorrect dependents | Can affect eligibility for credits/deductions and overall tax calculation. |
| Dependents | Forgot to add a dependent, incorrectly added a dependent, wrong dependent SSN | Impacts credits and exemptions. |
What to Expect After Filing an Amended Return
- Processing Time: Amended tax returns can take longer to process than original returns, often between 8 to 16 weeks or more, particularly during peak seasons.
- Tracking Your Amended Return: You can typically track the status of your federal amended return using the "Where's My Amended Return?" tool on the IRS website.
Correcting your tax information promptly ensures that your tax records are accurate and helps avoid potential issues with the IRS or state tax authorities.
