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1040X Tax Question
Old 03-17-2016, 10:35 AM   #1
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1040X Tax Question

It looks like I'm going to need to file an amended tax return this year, and I want to get this done before the filing deadlines in April. With my original 1040 filing I took the standard deduction. Now I find that I may need to file an amended return that will require me to itemize (for one item). So does anyone know if I can just file form 1040X or do I need to file 1040X and an updated 1040 with the itemized income/deductions listed?

I also see that Turbo Tax has a provision for using 1040X but I haven't used it yet. (and it may help answer my question when I fill it out) Just thought I'd ask if any "tax experts" know the answer.
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Old 03-17-2016, 11:28 AM   #2
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Originally Posted by Car-Guy View Post
It looks like I'm going to need to file an amended tax return this year, and I want to get this done before the filing deadlines in April. With my original 1040 filing I took the standard deduction. Now I find that I may need to file an amended return that will require me to itemize (for one item). So does anyone know if I can just file form 1040X or do I need to file 1040X and an updated 1040 with the itemized income/deductions listed?

I also see that Turbo Tax has a provision for using 1040X but I haven't used it yet. (and it may help answer my question when I fill it out) Just thought I'd ask if any "tax experts" know the answer.
You file the 1040X plus any new or corrected forms. So in your case you'd file the 1040X plus Schedule A - for itemized deductions.


They already have all the other forms you sent in. They don't need them again. If you want to send them everything again, along with the new 1040X and Schedule A - they won't complain. It just isn't required.
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Old 03-17-2016, 11:42 AM   #3
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Makes sense and that's what I was thinking would be the case.

Thanks
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Old 03-17-2016, 11:43 AM   #4
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Form 1040 itself also changed, though I'm not clear if 1040X is enough to replace it. Pretty sure I included the updated 1040 though.

You'll also find whatever form you actually use to calculate the taxes, for example, the Qualified Dividends and Capitals Gains Tax Worksheet also changes, also changes, unless you are able to use the basic tax tables. Include that form(s) as well.

As MB says, anything that changes. TT may tell you what you need to print.
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Old 03-17-2016, 02:16 PM   #5
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Good thread. I also need to file an amended return.


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Old 03-17-2016, 03:26 PM   #6
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remember you can not e-file an amended return. snail mail only.
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Old 03-17-2016, 04:57 PM   #7
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I did an amended return with TurboTax last year for TY13. I still had the 2013 program installed on my laptop, so I used that, and mailed in everything that printed out. It was painless. I may have sent in more forms than the IRS needed, but they processed the refund with no problem.
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Old 03-17-2016, 06:31 PM   #8
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Just to throw out a stmt....


You do NOT have to file if you do not want.... there is no requirement that you itemize... so, if the difference in tax is not a big deal you can just leave it alone....

Also, there is no deadline to file unless you are talking about 2012 taxes....
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Old 03-19-2016, 12:24 AM   #9
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Be sure to copy your file to a save backup name before you begin. So you will have the original in case it all gets really screwed up and can try again.
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Old 03-19-2016, 06:11 AM   #10
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Quote:
Originally Posted by Car-Guy View Post
It looks like I'm going to need to file an amended tax return this year, and I want to get this done before the filing deadlines in April. With my original 1040 filing I took the standard deduction. Now I find that I may need to file an amended return that will require me to itemize (for one item). So does anyone know if I can just file form 1040X or do I need to file 1040X and an updated 1040 with the itemized income/deductions listed?

I also see that Turbo Tax has a provision for using 1040X but I haven't used it yet. (and it may help answer my question when I fill it out) Just thought I'd ask if any "tax experts" know the answer.
I'm with Texas Proud - why do you think you have to itemize?
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Old 03-19-2016, 06:36 AM   #11
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There are certain situations where the standard deduction can't be used so itemizing is required, but they should be rare.

Quote:
Certain taxpayers cannot use the standard deduction:
  • A married individual filing as married filing separately whose spouse itemizes deductions.
  • An individual who files a tax return for a period of less than 12 months because of a change in his or her annual accounting period.
  • An individual who was a nonresident alien or a dual-status alien during the year. Nonresident aliens who are married to a U.S. citizen or resident alien at the end of the year and who choose to be treated as U.S. residents for tax purposes can take the standard deduction. For additional information, refer to Publication 519, U.S. Tax Guide for Aliens.
  • An estate or trust, common trust fund, or partnership; see Code Section 63(c)(6)(D)
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Old 03-19-2016, 08:33 AM   #12
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I'm with Texas Proud - why do you think you have to itemize?
Because I found that itemizing will result in a much lower tax bill for me this year.

BTW, I did call the IRS yesterday to ask some questions like (1) when to file an amended return (2) if I should wait for my refund check before filing the amended return (3) what forms to include etc, etc. I was expecting a very long wait time but to my surprise I got through to a live person in about 5 minutes. Most of that time was getting through the call menu system.

The person I talked to seemed to be knowledgeable but she did not tell me anything I didn't already know or had learned on this board. Bottom line, in my case it didn't seem to matter when I filed. She confirmed that I should only send in any new and changed forms and not send in any forms that didn't change from my original filing. (They already have those) I can either keep my refund check (when I get it) or send it back to be applied to my account. An amended return must be sent in VIA snail mail (as mentioned earlier in this thread) and she said I should expect it to take at least 16 weeks to be processes, etc....

Yesterday, I used my 2015 copy of Turbo Tax to prepare a "draft" copy of the 1040x. It was really very simple and took me about 10 mins. All the forms printed off (old and new) so I could compare to the originals if I wanted.

Since I'm now itemizing, I'm going to wait a few more weeks to see if I can "come up with" even more deductions to claim.

Thanks to everyone for their comments/suggestions. It helped me to be prepared for my call to the IRS and in thinking through my options, timing, etc.
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Old 03-19-2016, 02:17 PM   #13
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I don't have to change 1040 but rather schedule D, with this change I'm expecting some money back from the state but I need to file the federal first to make it kosher.


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Old 03-20-2016, 03:36 PM   #14
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I just finished my amended tax. Since the IRS said it will take 16 weeks to process, I think I might wait to send this form before I go for a long vacation, I won't be here to check the mail and respond. I hope it's not a bad idea. I can also wait until I get back to send. I mean its revenue neutral, but basically correcting paperwork. But I need to do this to do my state tax where I might get some money back. Just mulling here. Any good suggestions?


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