tax tips — April 22, 2011

How makes filing an amended tax return smart and simple!

by Michael Jenkins takes the guesswork out of filing an amended tax return (1040X).

If you feel you made a mistake on your return, first wait until the return has been rejected or accepted by the IRS. If the return is rejected, you may correct any mistakes and refile.

If your return has already been accepted, you must file an amended return with Form 1040X, which is available by clicking on Your Forms on the left, then on the Misc. tab, then scroll down to the 1040X:

Add 1040X form to return

Once you have clicked "Add a form" you will be taken to the data-entry portion of the 1040X, where you complete the Column A entry and parts I & II - leave the rest to us for this form.

Form 1040X data entry

Once you are finished with the data entry for the 1040X, save the form at the bottom of the screen.

Now that your 1040X data entry is complete, it is time to complete columns B and C of the 1040X by making edits to the return in additional data entry screens within your return. For example, if you had a W-2 to add to the return, simply click Your Forms and then on the Income tab, and you will find the W-2 form to be added to the return. Do this same step for any additional forms you may need to add. If you need to edit existing forms to change a figure from the amount as it was originally filed, click Your Forms, choose the form you wish to edit and then edit the data directly on-screen. Once done, click Save on that screen and then click Results to view your return. When viewing your return, you'll notice that the entire 1040X form will be completed for you now automatically.

1040X - the Smart and Simple way.

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