Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Amended Tax Return Question
Old 04-01-2017, 11:48 AM   #1
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: St. Charles
Posts: 1,599
Amended Tax Return Question

I have never had the need to file an amended return before. For 2016 I had 2 months of W-2 income before retiring. Since I had over paid on withdrawals, I filed as soon as I had all my forms, then last week I got a corrected W-2 . After putting the minor changes into Turbo Tax, I'll get $1 back from the state and $7 back from the Feds. I am tempted to not even file, but I figure some computer somewhere will catch the discrepency and I'll get letters from State and fed.

I filed both electronically, but understand that the amended return must be a paper filing.

Question: Turbo Tax tells me to be sure to include all W-2's and 1099's. I am assuming that is just the corrected version of the W-2. Is this correct? Or do I need to resend everything they already got electronically?
__________________

__________________
If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
CardsFan is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-01-2017, 11:50 AM   #2
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 2,002
Just the corrected pieces, see IRS.gov for the 1040-X instructions. That should help with the questions.
__________________

__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Old 04-01-2017, 12:05 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 3,797
Here is some guidance we have received:

"As of 2016, the IRS has requested that if a taxpayer discovers $200 or less of missed income, after filing, that
no amended return be prepared. Instead, the taxpayer should wait for a letter from the IRS. (As noted below,
the taxpayer may have the option of simply accepting the IRS calculation of how much additional tax is owed,
as stated on an adjustment letter from the IRS, and mailing a check for that amount.)"
kaneohe is offline   Reply With Quote
Old 04-01-2017, 06:01 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,302
I would not file and see if I ever got a letter...
Texas Proud is offline   Reply With Quote
Old 04-01-2017, 07:00 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 3,173
Quote:
Originally Posted by Texas Proud View Post
I would not file and see if I ever got a letter...
Since they owe you money not vice versa, and revenue agents have a quota of funds to make they won't bother.
meierlde is offline   Reply With Quote
Old 04-01-2017, 07:03 PM   #6
Thinks s/he gets paid by the post
Just_Steve's Avatar
 
Join Date: Apr 2016
Location: Dutchess County
Posts: 1,368
Quote:
Originally Posted by meierlde View Post
Since they owe you money not vice versa, and revenue agents have a quota of funds to make they won't bother.
About 30 years ago I received a letter from the IRS stating there was a math error on my return and that I would be receiving a check for $3. About 3 months later it came.
__________________

Just_Steve is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Amended tax return stuck in no mans land. heeyy_joe FIRE and Money 3 01-23-2016 10:37 AM
Filing an amended Tax Return - 5 Rules Alan FIRE and Money 2 01-18-2015 03:33 PM
Kitces: / Managing Sequence Of Return Risk With Bucket Strategies Vs A Total Return macav933 FIRE and Money 21 12-06-2014 10:38 AM
File Amended Return for Minor 1099-B Correction? RunningBum Other topics 5 07-26-2014 09:49 PM
help, think I need a amended 1040 ER_Hopeful FIRE and Money 3 11-22-2009 01:12 PM

» Quick Links

 
All times are GMT -6. The time now is 01:33 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
×