Video transcript:
Hello, I'm Jill from TurboTax with some information for taxpayers about using tax form 1040-X.
Unless you've amended a tax return before, you may not know why taxpayers file a 1040-X or when you should use it yourself. This is because filing a 1040-X form is only necessary to correct certain types of errors or omissions on an original tax return after it's been filed with the IRS.
The IRS only allows you to file an amended return on Form 1040-X to correct a tax return that you originally file on Form 1040, 1040-SR, 1040A, 1040EZ, 1040NR or 1040NR-EZ. But even if you file on one of these forms, the changes you make on a 1040-X must solely relate to items that affect your taxes and not, for example, to update your address, phone number or other personal information.
Typically, you can use the 1040-X to increase or decrease your gross income, to choose a new filing status that you were eligible for, to claim deductions, exemptions and credits you forgot to report and to eliminate those that you aren't eligible for. If you do claim a new deduction or tax credit that requires additional forms or schedules, you must be sure to file them with the 1040-X. And if you make changes to other forms and schedules that you filed with the original tax return, you need to prepare them over again.
However, it's not necessary to prepare the actual tax return form again. Before deciding to amend your return, you should be aware that the IRS doesn't want you to file a 1040-X to correct minor mistakes, such as mathematical errors or forgetting to attach required schedules and forms to the return. The IRS will check your return for mathematical accuracy and will recalculate your taxable income if necessary. And if you forget to attach a Schedule A when reporting itemized deductions or fail to attach a W-2, the IRS will request these documents from you after it processes your return.
And don't forget, the changes you make to your federal return may affect your state income tax return, so you may need to check if an amended state return is necessary as well.
If you do end up having to amend your return, we can help you file a 1040-X as well.
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