Amending a tax return

ApplePersonFreak

macrumors 6502a
Original poster
Sep 23, 2016
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Have any of you guys had to amend your tax return before? My stupid self did mine one day too early and of course I get a 1099-SA today for an HSA I regret opening. What is the process like to amend a return? This will be my first one and at this point I am hoping the IRS catches and rejects my return so I can fix it.
 

Mac'nCheese

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Feb 9, 2010
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Have any of you guys had to amend your tax return before? My stupid self did mine one day too early and of course I get a 1099-SA today for an HSA I regret opening. What is the process like to amend a return? This will be my first one and at this point I am hoping the IRS catches and rejects my return so I can fix it.
I can’t tell you exactly how easy it is but IIRC it was pretty easy. Just downloaded the amend form, filled it out and sent it in with the 1099. Just not sure if you need to wait until they process your taxe return before you can amend it. I would assume so.
 

ApplePersonFreak

macrumors 6502a
Original poster
Sep 23, 2016
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426
I can’t tell you exactly how easy it is but IIRC it was pretty easy. Just downloaded the amend form, filled it out and sent it in with the 1099. Just not sure if you need to wait until they process your taxe return before you can amend it. I would assume so.
I gotcha. Just sucks it can't be e-filed. no wonder it takes too long. Thanks for the reply
 
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ApplePersonFreak

macrumors 6502a
Original poster
Sep 23, 2016
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Any CPA’s around? Since my tax refund won’t change as far as the refund goes because of the HSA being used as a medical expense - should I really wait till my refund comes before I amend?
 

curmudgeonette

macrumors 6502a
Jan 28, 2016
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California
Any CPA’s around? Since my tax refund won’t change as far as the refund goes because of the HSA being used as a medical expense - should I really wait till my refund comes before I amend?
If the "amount you owe" or "amount to be refunded" won't change, then you have lots of time to file the amended return. You don't want the amendment to get processed first, so you should wait until the original return is processed. A good way to determine that is to wait for the refund.
 

Gutwrench

Contributor
Jan 2, 2011
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In 2014 I failed to claim a 1099-R. :rolleyes:

I received a nice letter from the IRS noting the discrepancy and an invitation to send them $21k plus a substantial penalty.

I can’t believe I made that mistake, but I completed the simple form they enclosed along with a copy of my 1099-R.

They were correct I failed to report the 1099 but were incorrect on owing them anything. A few weeks later a letter came saying my case was closed with no further action.

All turned out well, but they got my attention.
 

crf8

macrumors regular
Apr 6, 2017
130
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I forgot to add capital gains once, 2 years later got an IRS letter requesting $14,000. I recalculated using TurboTax, including the cost basis, came out I owed $3900. I paid it with proof of cost basis and they were happy.
 

ApplePersonFreak

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Original poster
Sep 23, 2016
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Thanks guys! I got an approval from IRS today and should be getting my refund by Friday.. by the time I mail my amended return (heading to USPS Sat) it should be perfect timing. Sucks that I have to go through all of that trouble just for one correction, but oh well. Lesson learned. Guess I will be waiting a few days more next year before I do them to make sure i have everything.
 
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Mac'nCheese

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Feb 9, 2010
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Thanks guys! I got an approval from IRS today and should be getting my refund by Friday.. by the time I mail my amended return (heading to USPS Sat) it should be perfect timing. Sucks that I have to go through all of that trouble just for one correction, but oh well. Lesson learned. Guess I will be waiting a few days more next year before I do them to make sure i have everything.
I know the law is that everything should be mailed to you by the end of January. I wait until a few days into feb before dropping my stuff off at the accountant. Just finished.
 
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