Have you ever hit that "file" button on your tax return, only to realize moments later you've forgotten a crucial piece of information, or worse, made a mistake? Don't panic! It happens to the best of us. The good news is that amending your tax return is a common process, and TurboTax makes it relatively straightforward. But the burning question often is: How much does it cost to amend taxes on TurboTax? Let's dive deep into that, and I'll walk you through the entire process, step by step.
Unraveling the Cost: How Much is it to Amend Taxes on TurboTax?
The short, and often pleasant, answer is: There is generally no additional fee to amend a federal tax return that you originally prepared and filed using TurboTax, unless the changes require you to upgrade to a higher version of the software.
This is a significant point, and it's where most of the "cost" confusion lies. Let's break it down further:
The "No Additional Fee" Scenario
If you filed with, say, TurboTax Deluxe, and your amendment simply involves correcting an income amount, adding a missing deduction that was already supported by the Deluxe version, or adjusting a credit, you typically won't pay anything extra. TurboTax considers this part of the service you already paid for when you purchased or used their software to file your original return.
The "Upgrade Fee" Scenario
This is where a cost can come into play. If your amendment introduces a new tax situation that was not covered by the TurboTax version you originally used, you might need to upgrade. For example:
You used TurboTax Free Edition, but your amendment involves itemized deductions, self-employment income, or stock sales. The Free Edition is designed for very simple tax situations. If your amendment moves you into a more complex category (like those requiring Schedule A, C, D, etc.), you'll be prompted to upgrade to a paid version (e.g., Deluxe, Premier, Self-Employed). In this case, you'd pay the difference in price between the Free Edition and the required higher-tier product.
You used TurboTax Deluxe, but your amendment now involves rental property income or a complex business. You might need to upgrade to TurboTax Premier or Self-Employed, respectively. Again, you'd pay the difference.
Important Note on State Amended Returns: While federal amended returns often don't incur an additional fee beyond potential upgrades, state amended returns can sometimes have a separate e-filing fee even if the federal amendment is free. This varies by state and whether you originally paid for state e-filing. Always check the specific details within TurboTax as you prepare your state amendment.
Step-by-Step Guide: Amending Your Taxes on TurboTax
Now that we understand the potential costs, let's get into the practical side of amending your return.
Step 1: Don't Rush! Wait for Acceptance and Processing.
This is critical. Before you even think about amending, ensure your original return has been fully accepted and processed by both the IRS and your state (if applicable). Amending a return that's still "pending" or "processing" can create significant headaches and delays.
How to check status:
Federal: Use the IRS "Where's My Refund?" tool (even if you owed money, it will tell you your return status).
State: Check your state's Department of Revenue website for a similar "Where's My Refund?" or "Check Status" tool.
Engage the user: Think of it like this: You wouldn't try to repaint a wall while the first coat is still wet, right? The same goes for your taxes. Patience here will save you a lot of potential frustration down the road!
Step 2: Gather Your Documents (Original and New)
You'll need a clear picture of what you originally filed and what needs to change.
Sub-heading: Your Original Return
Log in to your TurboTax account.
Go to "Tax Home" or "Your Tax Returns & Documents."
Locate the tax year you need to amend.
Download and save a PDF copy of your original return. This is incredibly important for comparing values as you amend.
Sub-heading: New or Corrected Documents
Did you receive a corrected W-2, 1099, or K-1? Have it ready.
Did you forget a deduction or credit? Gather all supporting documentation (receipts, statements, etc.) for that missed item.
Are you changing your filing status or adding/removing a dependent? Make sure you have the necessary information.
Step 3: Initiate the Amendment Process in TurboTax
This is where you tell TurboTax you want to make a change.
Sub-heading: For TurboTax Online Users
Log in to the same TurboTax account you used to file your original return.
Navigate to "Tax Home" (usually the first page after logging in).
Scroll down to "Your tax returns & documents" and select the correct tax year.
Look for a link or button that says "Amend (change) return" or "Amend using TurboTax Online." Click it.
TurboTax will then guide you through the process, essentially reopening your return and prompting you to make changes.
Sub-heading: For TurboTax Desktop Users (CD/Download)
Open the specific tax year version of the TurboTax software that you used to file your original return (e.g., if you're amending 2023, open your 2023 TurboTax Desktop software).
Go to the "File" menu at the top.
Select "Amend a return after it was filed and accepted by the IRS" or a similar option.
The software will walk you through confirming you've filed and then allow you to make changes.
Step 4: Make Your Corrections Carefully
This is the core of the amendment. TurboTax will typically present your original return's figures and ask you to update them.
Only change what needs to be changed. Resist the urge to re-enter everything. Focus on the specific items you identified as incorrect or missing.
The refund/tax due calculator will reset to zero. Don't be alarmed by this. It will only show the change in your refund or tax due as a result of your amendment.
TurboTax will help you fill out Form 1040-X. This is the official IRS form for amended individual income tax returns. It has three columns:
Column A: Original amounts.
Column B: Net change (increase or decrease).
Column C: Corrected amounts.
TurboTax automates this for you as you make your changes in the interview questions.
Provide a clear explanation. Form 1040-X requires a brief explanation for why you're amending. TurboTax will usually guide you on this, but be concise and accurate. For example, "To report omitted interest income from Form 1099-INT" or "To claim missed charitable contributions."
Step 5: Review, Review, Review!
Before filing, thoroughly review your amended return.
Compare the corrected amounts (Column C on Form 1040-X) to what you believe should be correct.
Double-check that all your new documents and information have been accurately entered.
Ensure the explanation on Form 1040-X is clear and correct.
It's a good idea to print a draft copy and review it away from the screen for any overlooked details.
Step 6: File Your Amended Return
This is the final step.
Sub-heading: E-filing vs. Mail
Federal Amended Returns (Form 1040-X): In recent years, the IRS has significantly expanded e-filing capabilities for Form 1040-X. TurboTax will generally allow you to e-file your federal amended return if eligible. This is the fastest and most secure method.
State Amended Returns: E-filing availability for state amended returns varies by state. TurboTax will inform you if your state allows e-filing or if you need to print and mail it.
If you must mail:
Print your Form 1040-X (and any supporting forms/schedules).
Sign and date the return.
Attach any new or corrected forms (like a corrected W-2 or 1099) to the mailed return.
Mail it to the appropriate IRS and/or state address. TurboTax will provide the correct mailing address. Keep a copy for your records!
Sub-heading: What to Expect After Filing
Processing Time: Amended returns take significantly longer to process than original returns. The IRS states it can take up to 16 weeks (4 months) or more. State processing times also vary.
Tracking: You can usually track your federal amended return using the IRS "Where's My Amended Return?" tool. State tracking tools may also be available.
Refund/Payment: If your amendment results in a refund, it will be issued after processing. If it results in tax due, pay it by the original payment deadline (or as soon as possible after realizing the error) to minimize penalties and interest.
10 Related FAQ Questions
Here are 10 frequently asked questions about amending taxes on TurboTax, with quick answers:
How to know if I need to amend my tax return?
You need to amend if you discover an error or omission that affects your tax liability (income, deductions, credits, filing status, dependents). Small mathematical errors are usually corrected by the IRS and don't require an amendment.
How to find my original tax return in TurboTax?
Log into your TurboTax account, go to "Tax Home" or "Your Tax Returns & Documents," and select the relevant tax year. You can then download a PDF copy.
How to amend a prior year's tax return on TurboTax?
You must use the TurboTax software for the specific tax year you are amending. Log into that year's program (online or desktop) and follow the amendment instructions.
How to check the status of my amended return?
For federal, use the IRS "Where's My Amended Return?" tool. For state, check your state's Department of Revenue website.
How to pay if my amended return shows I owe more tax?
TurboTax will guide you on payment options, which typically include direct debit from your bank account, paying by credit card (third-party fees may apply), or mailing a check. Pay as soon as possible to avoid or minimize penalties and interest.
How to get a refund from an amended return?
If your amended return results in a refund, the IRS (and your state, if applicable) will issue it after processing the amended return. This can take several months.
How to amend a TurboTax Free Edition return?
If your amendment introduces tax situations not covered by the Free Edition (e.g., itemized deductions, self-employment), you will likely need to upgrade to a paid version of TurboTax and pay the difference in price.
How to amend if I already closed my TurboTax account?
You'll need to reactivate or access the account using the same login credentials you used to file the original return. If you can't, you might need to contact TurboTax support.
How to amend a state tax return in TurboTax?
After amending your federal return, TurboTax will prompt you to amend your state return if necessary. The process is similar, but state e-filing fees may apply.
How to get help from a tax expert during the amendment process on TurboTax?
If you have TurboTax Live, you can connect with a tax expert for assistance. Otherwise, TurboTax's community forums and support articles can provide guidance.
