Comments on: Filing A 1040X Is Not Scary

By: Diem N.

Diem N. — Tue, 14 Apr 2009 22:27:14 +0000

Instructions:
http://www.irs.gov/pub/irs-pdf/i1040x.pdf

Form:
http://www.irs.gov/pub/irs-pdf/f1040x.pdf

File a regular 1040 with the correct income, that includes the amount in the missing W2 as well. Have original tax papers and the newly updated tax papers to fill out your 1040X.

Hope this helps.

By: Jesse24722

Jesse24722 — Wed, 01 Apr 2009 16:55:38 +0000

Okay I need to file a 1040X because I got a W2 late. Where online do I go to do that and how? I would really appreciate any help I could get!! Thanks..
-Jesse

By: Anonymous

Anonymous — Fri, 19 Oct 2007 05:15:34 +0000

Jim… Ahh. The ability to mark amounts as Estimated is not in the Online version. So, you did not miss some undocumented feature.

Bob Meighan
VP, TurboTax

By: RockRyno

RockRyno — Fri, 19 Oct 2007 02:40:36 +0000

Wow, Jim: you typed the estimate in and never went back to update the actual? That’s just reckless taxing , man! Especially with online business which, I’m sure can fluctuate quite a bit.

I was going back and forth (PC version) at least a half a dozen time to check if everything is typed in correctly and not missed (especially deductions ) and still wasn’t sure until the very end. Well, in my case I was pondering on my return for quite awhile waiting for the form to claim hybrid vehicle deduction that has not become available until very late in the tax season.

By: jim

jim — Thu, 18 Oct 2007 00:08:38 +0000

Thanks for the tip Bob, I was using the online version, was the check box there last year? I must have missed it or something, thanks!

By: Bob Meighan

Bob Meighan — Thu, 18 Oct 2007 00:03:54 +0000

Jim… While filing an amended return may not be scary, it’s a hassle. To help you avoid making the same mistake in TurboTax, I suggest that if you enter estimated amounts, that you also mark the amount as ESTIMATED. Do this by selecting Edit/Mark as Estimate or simply press F8 in the numeric field. That way when you run Final Review, TurboTax will flag the amount as an estimated amount. You’ll then need to address it before you file.

I hope this information helps.
Bob Meighan
VP, TurboTax

By: rstlne

rstlne — Wed, 17 Oct 2007 16:58:34 +0000

I filed a 1040X earlier this year because I had gotten phased out of my Roth IRA and thus had an excess contribution and taxable income on that excess contribution. It’s not hard to do with tax software. Also, the local IRS office forgave the $2 in interest incurrred.

By: Chris

Chris — Wed, 17 Oct 2007 15:04:55 +0000

I had to file a 1040X a couple of years ago because of an error on my return. I owed about $500 extra, and the interest for almost an entire year (the time it took them to notice the mistake and mail me about it) was only a few dollars. It was pretty easy, though.