Federal 1040 Amend Instructions:

Transcription

1 Federal 1040 Amend Instructions: If you used TurboTax Online to prepare and file your original return, follow these steps. Note: If you used TurboTax Desktop/Download, skip down to Desktop/Download Customers Start Here! 1. Save Your TurboTax Online 2011 return to your computer: a. Sign in to TurboTax Online and open your tax return b. On the Home tab, click Save your 2011 return to your computer.

2 c. In the Save As window, browse to the location where you want to save the file, preferably in the My Documents folder for Windows or the Documents folder for Mac. The file is saved with a.tax2011 filename extension. d. (Optional) Change the default name to something more meaningful, for example J Doe 2011 Online Tax Return. e. Click Save. f. Now click on Save & Sign Out in the upper right corner of screen. 2. Download the TurboTax Desktop version a. Call the phone number on your and request a download of the desktop version b. Go to and click on My Account

3 c. Click on the Downloads and Unlocks under My Orders d. Sign in using your User ID and Password. e. Click on the Downloads that are available

4 f. Click the Sign Out in the upper right hand corner of the screen g. Continue with the steps below that include the desktop/download customers. Desktop/Download Customers Start Here! 1. Open Your Tax File in TurboTax Desktop/Download product a. Click on TurboTax 2011 b. When you see the Check for updates now? screen, be sure to click Do Not Check Now button. You will update the tax file later. c. On the Continue Your 2011 Tax Return screen, select Find a Tax File

5 d. Go to the folder or location where you saved the.tax2011 file e. Select the.tax2011 file, and then select Open f. From the File menu, choose Save g. Continue with the instructions below. 2. Update your TurboTax desktop/download product. a. At the top of the screen, go to Online and click Check for Updates b. If you see this screen that New updates are available, indicate Update now and click OK

6 c. After updating, TurboTax will return to your tax return. d. Go back to File menu and choose Save As e. Change the file name to 2011 Amended return or something similar and click Save. Here are the steps to begin to amend your federal return: 1. You are now in your 2011 tax return that you will amend. Select Forms 2. Before we continue, write down the current federal refund/balance due shown at the top of your screen. If you filed a state tax return, write down the state s current refund/balance due. These are the amounts listed on your originally filed tax return.

7 3. Now click on Open Form 4. In the type a form name box, enter 1040X and double click on Form 1040X:Amended Tax Return 5. The Form 1040X will open. Check the box for If you filed a 2011 state tax return, go to the Forms in My Return and scroll down to your state. 7. Click on the Info Worksheet under your state s name. Here s an example for California.

8 8. On your state s Information Worksheet, scroll down to the Amended Return section at the bottom of the worksheet. 9. Check the box to indicate you are filing an amended state return. 10. If you paid a balance due on your original state return, enter that amount on the Previous state payment made. 11. If you received a refund on your original state return, enter that amount on the Previous state refund received line. 12. Click the QuickZoom box t open that state s amended form. Now it s time to make changes to your original tax return. 1. Go to the Forms in My Return and click on the Schedule E, p1 (Schedule E, Copy1) 2. Scroll down the Schedule E to Part 1, Physical Address for each property. 3. Note each address that has Type 5

9 4. Now go back to Forms in My Return and click on the Schedule E Wks for each property that had Type For each of those Type 5 properties, scroll down the Schedule E Worksheet to Check All That Apply section and check the box for G, Other Passive Exceptions. 6. After checking box G for each property that is Type 5, review the federal tax refund/due and state refund /tax due at the top of your screen.

10 7. If the amounts are same as on your original return(s), you don t need to amend your tax return(s) since even with the change you made, the tax on your return(s) did not change. You do not need to continue with these instructions 8. If the amounts are different from your original return(s), you need to amend your return(s). Continue with these instructions. Here are the steps to complete your federal amended tax return. 1. Click on the form 1040X on Forms on My Return or at the top of your screen. 2. Scroll down to lines 19 and 20. If there is an amount on line 19, you owe that amount for this federal amended return. If there is an amount on line 20, you will receive a refund with this amended return. 3. Scroll further down the form to Part III, Explanation of Changes. 4. Enter the following: The original tax return included Schedule E that had property listed with Type 5 (Land) and that property had net income for That net income incorrectly was treated as passive income. This amended return treats that net income as nonpassive income. Here are steps to complete your state amended return. 1. Click on your state amended return in either the Forms on My Return or at the top of your screen. (Most states amend form titles includes an X similar to federal s 1040X.) 2. There may be questions that need to be answered and boxes to be checked for your state amended tax return. 3. Click on the Errors button above Forms in My Return 4. At the bottom of your screen, you will see what needs to be answered or checked. 5. In the example below, Form 540X appears and the error reads that Line A must be entered. Note: that area is pink in color. Once either yes or no is checked, the pink color disappears.

11 6. After you complete each error, click the up/down button in the right hand corner. 7. If one of the errors asks about checking a box to transfer the federal explanation from the Federal amended return, be sure to check that box. 8. If an error asks you to enter an explanation, enter the same explanation you entered for the federal return. 9. When there are no longer errors, your state return is completed. Now it s time to print and mail your amended return(s). Follow these steps: 1) On the toolbar, click on File and then Print

12 2) Choose All official forms required for filing 3) Check the box for Form 1040: Individual 4) If you are also amending a state return, check the box for that state. 5) Click Print button 6) The forms to mail will print. 7) The instructions will indicate any balance due that you need to pay or refund that you will receive. It will also include the address to mail the return. 8) Be sure to print out an extra copy to keep for your files.

13