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February 3, 2025
Question

Made a mistake when filing 2024 taxes

  • February 3, 2025
  • 1 reply
  • 0 views

I put in 1099INT  information from 2023 instead of 2024 by mistake in my 2024 tax return. I already efiled the return with Turbo tax

What steps do i need to take to correct. The interest income is $5464.00 more for 2024 so it changes everything.

    1 reply

    February 3, 2025

    You cannot change or add anything on the return that you just e-filed, nor can you stop it.  It is too late, just like when you put an envelope in a US mailbox on the corner.  The IRS does not allow you to take it back.

     

    If you left out a W-2, a 1099G, or a dependent, or a 1099 etc…DO NOT change your return while it is “pending.”  The changes will go nowhere.

     

    Now you have to wait until the IRS either rejects or accepts your return.  If your return is rejected, you will be able to go into your account and make the necessary changes to your tax return and re-submit your return. 

     

     If the IRS accepts your return, however, then you have to wait longer until it has been fully processed and you have received your refund.  THEN you can prepare an amended tax return and e-file or mail  it in. You have to be able to work from that return exactly the way it was when it was e-filed originally.  You will need to use a form called a 1040X.

     

      Meanwhile, DO NOT go in and start changing anything on your return in the system, or you will make a mess for yourself.  Sit tight and wait until you see what the IRS does with the return you just e-filed

     

    The Form 1040X you might need became available in mid February,  But wait until your return has been processed.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**