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Amended Return question

Ernie
Level 9

I have to file an amended return because they received a new 1099-B after we filed. 

They also have unemployment that they did not get the $10,200 deduction from income for.

When doing the amended return do I balance the 1040X before entering the 1099-B and then give them a voucher for the $500 they will owe or do I leave the unemployment on the amended return have the IRS send them a bill?

Thanks,

Dusty Ernie

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Skylane
Level 8
Level 8

Amend it all. Include the unemployment and give them a voucher for the correct amount. 

If at first you don’t succeed…..find a workaround

View solution in original post

6 Replies 6
Skylane
Level 8
Level 8

Amend it all. Include the unemployment and give them a voucher for the correct amount. 

If at first you don’t succeed…..find a workaround

View solution in original post

Ernie
Level 9

Thanks Skylane.  Appreciate the input.

IRonMaN
Level 15

I'll second the amend all philosophy.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
BobKamman
Level 14

That answer doesn't make any sense to me, probably because the question isn't clear.  Is the $500 they owe, before or after the unemployment exclusion?  The amended return should include both the 1099-B income and the 1099-G exclusion.  If that results in a refund, file it that way and let IRS cross it off the list to change later.  (Also, might kill two birds with one stone if the state needs to be amended also. )

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Ernie
Level 9

Bob:  with the unemployment (that the IRS will automatically fix) they are getting a refund.  With out the unemployment they will owe money.

I don't want to wait to pay so the IRS can add interest.  I want them paid by the tax deadline.

Dusty Ernie

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BobKamman
Level 14

I would want a correct return filed by May 17.  (In that case, it would be a superseding return, but what you call it really doesn't matter.)  A correct return would show the 1099-B income and the unemployment exclusion.  

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