Filing an amended tax return, anyone ever done it?

[traces7]

I forgot a couple credits on our tax return - the one where you report your property tax and 401k contributions. (Lines 24b and 32 on Form 1040A). Just totally missed them. So now I'll have to do an amended return, but we'll get another $250+ back!

It says on the IRS website to wait til you get your original refund back, I just filed last Thursday. And then you have to mail in the amended form I guess and it could take up to 12 weeks. Has that been your experience if you filed an amended return? Any other advice? Thanks!

I'm so mad for missing these credits. I did the forms myself and used FreeFile on the IRS website. Next year I may try TurboTax or one of those programs, sounds like they help you not miss these credits.

 

[VirataMama4]

I had to file an amended return a few years ago. I also had to wait till I got my refund and then mail in the amended return. I don't think it took as long as 12 weeks to get my refund, but it could have

 

[minnie1928]

I filed an amended return for my parents about 2 or 3 years ago. It's really no big deal and I think we had the refund within a month, maybe slightly longer....definitely not 12 weeks.

 

[traces7]

I filed an amended return for my parents about 2 or 3 years ago. It's really no big deal and I think we had the refund within a month, maybe slightly longer....definitely not 12 weeks.

Oh good, the sooner the better!

 

[Cheshire Figment]

Filing an amended return in itself is not a problem.

However, it is best to wait until you are sure the original return has been processed before you mail in the 1040-X. That way if there is any correction or adjustment to the original by IRS you do not get everything confused beyond belief.

Mike (CPA Retired)

 

[DisneyShannon]

I am at work right now but when I get home I will send you a P.m with the form you need. I WAS TOLD BY THE IRS WORKED TO NOT FILE THE AMENDED FORM UNTIL YOU GET YOUR REFUND CHECK MINUS THE MONEY YOU NEED TO AMEND. This is very important because it could take up to 20 weeks to get your money, if you go ahead and file the amendment.

 

[traces7]

I am at work right now but when I get home I will send you a P.m with the form you need. I WAS TOLD BY THE IRS WORKED TO NOT FILE THE AMENDED FORM UNTIL YOU GET YOUR REFUND CHECK MINUS THE MONEY YOU NEED TO AMEND. This is very important because it could take up to 20 weeks to get your money, if you go ahead and file the amendment.

I have the form already, thanks! I read on the IRS website to wait til we get the original refund, so I won't do anything til then. Thanks for the advice though.

 

[simba20]

In 2005 or was it 6...we filed amended returns for the years 2002, 2003, 2004. I remember we had to do 2002 right away, as there is only a limited amount of time to go back and amend prior years. My husband is a teacher and we found out things we could itemize versus doing the simple form we had been doing. We had our tax guy do it, and the money we got back that year from not itemizing years beofre helped us tremendously.

 

[HsvTeacher]

We have had to file amended forms for missed deductions before we started using TurboTax. Definitely wait until your original form has been processed, then send your amended form.

It took less than a month before we received our refund.

 

[decaff38]

Do you have to fill out an entire new return or can you copy the original and change things in say red pen? I have to do my daughters and mine from last year. Won't make that mistake again.

 

[Cheshire Figment]

You use a Form 1040-X for an amended return.

I know if you are using Turbo Tax you would call up the Form 1040-X and fill in the year. This will automatically populate Column A. Then you make the changes you need and columns B and C will fill in autmatically. Toward the bottom of Page 1 you have to put in either the amount sent in with the original or the refund amount, and you will either pay or receive the difference.

On Page 2 you have to explain what changes are being made. The only items you have to attach ar Forms/Schedules that have changed and anything which you might beel necessary to support the changes.

Note that this can only be filed by mail and you cannot have direct deposit of any related refund.

Mike (CPA Retired but still with about 20 tax clients)

 

[SandrA9810]

Did it last year. I didn't know about the interest rate on student loans being tax deductable till I got the form from sallie mae. I went back through HR Block and realized it was an extra 100$. So my aunt filled out the amended return, and I mailed it in. It did seem to take like 2 months to get the check back. It was just a nice added bonus, I think we held onto it for a couple months before cashing.