Refund monitor for an amended return not starting at zero

Forum|Forum|2 years ago
March 6, 2024
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I have just started to amend a 2022 federal tax return. When I start the amendment process, the refund monitor does not start at 0 (zero). It changes to a negative (red) number. I have made no changes or entries at all. I just started the amendment process. Please can some expert explain this behavior. Thanks.

MonikaK1

The refund meter doesn't always start at zero. Follow these steps when amending a return:

If you prepared your original tax return using TurboTax, log in to your account, open the tax return you already filed, and click on the link to amend your return. From there, the software will walk you through the process of filing the amendment.

If you didn't use TurboTax to file your tax return, you can use TurboTax to prepare the amendment. However, you'll first have to enter your information into TurboTax to match what you filed the first time, then start the process of amending it.

Then, review the 1040X itself.

Column A should show the original amount reported

Column B should show the net change— amount of increase or (decrease)

Column C should show the new correct amount for the line item

There are times when you should amend your return and times when you shouldn't. Here are some common situations that call for an amendment:

You realized you missed out on claiming a tax deduction or credit.
You accidentally claimed the wrong tax filing status.
You need to add or remove a dependent.
You forgot to claim taxable income on your tax return.
You realize you claimed an expense, deduction, or credit that you weren't eligible to claim.

See this article and this one for more information on filing an amended return with TurboTax.

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dyonsAuthor

Thanks for your response, but the first page of the Turbotax program starting the amendment process has text that says that the meter should start at ZERO. In my case, it starts at some RANDOM number which I am not able to reconcile with any of the entries in the original return.

You say that the meter does not always start at zero. What is the reason why the meter should not start at zero?

Thank you.

istet007

I am having the same issue. Let's assume that on the original 1040 form AGI is 100,000. When I amend the return on form 1040X, the original amount shows as 99,000 (column A), column B shows a 1,000 and the "corrected" amount on column C is 100,000. So turbotax starts the amended return calculating that I have to pay tax on 1000, tax that I already paid with the original return. Because the corrected amount is exactly what it is on the original 1040 form. This seems to be a bug that needs to be fixed ASAP.