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i mixed up returns, please advise.

Forum|Forum|6 years ago
April 22, 2019
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Hi!

Please help. I have 3 businesses. 2 of which i was reporting $0s on and a 3rd i was reporting a profit. I mistakenly mixed up the one I was suppose to be reporting a profit with one i was suppose to be reporting a $0 and sent that. (mainly because one of the $0s was my primary business the year before.)

How should I approach the situation?

Call and ask to cancel because i sent the wrong return or what?

Thank you so very much.

Other

Best answer by Anonymous_

Yes Tagteam you are correct. The business that was suppose to show a loss shows a profit and another business shows a profit when it should show a loss. Furthermore I filled the tax returns electronically (e-file).

No text available

Kat11_2

Are these Schedule C businesses? If so, you'd need to amend the return (can't be cancelled once it's been accepted by the IRS) to reflect the correct information. All 3 business were reported on in TurboTax Self-Employed or Home & Business programs, correct? The TurboTax FAQ below will instruct you on how to amend your 2018 return. Please wait until the original return has been completely processed and any payment or refund has been made. Additionally, an amended return cannot be e-filed. It must be printed, signed and mailed.

"How do I amend a 2018 return in TurboTax?"

https://ttlc.intuit.com/replies/7276605

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***

W

warith3140Author

All 3 businesses were filed as schedule k (partnerships) and yes the businesses were reported on turbo tax. Approx how many days after filing does it usually take to receive a "processed" confirmation email from the IRS?

Thank you so very much for your help

Kat11_2

@warith3140Forgive me for asking, but did you file using TurboTax Business? The reason I ask is because I'm not versed in Partnerships, etc. If you used the Business program (which is available only in Windows Download version), I'll see if I can find another SuperUser who will be able to answer your question best.

When I use the word "processed", I mean that the return has completely cleared the IRS system. In other words, you would have received any refund that is due you, or made any payment to the IRS if you had a tax liability.

*** I am NOT a tax expert. I am a seasoned TurboTax user, and volunteer to provide assistance to TT users. Nothing I post is to be considered TAX ADVICE; I bear no legal liability for responses.***