USA Help Me Fill Out Amended Tax Return 1040X

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Hi. First time poster here. Here's an overview of my situation:

I filed my tax return form 1040 in March. My refund was estimated to be $3210 with an Earned Income Credit of $3305 and health care individual responsibility of $95. Soon afterwards, I received a notice from the IRS to file form 8962. Another $51 were added to my refund using the information from form 8962. A few weeks after filing form 8962, I received another letter from the IRS that my refund amount had been adjusted to $3228.

My refund was never released, and upon calling the IRS, they told me to expect a letter in the mail. I got that letter last week and it's a request to file the amended tax return 1040X.

I looked over the form 1040X and found it very confusing. Where do I put the $18 that IRS credited to me? (requested a transcript and report, found an explanation code 766). What proof do I attach with that? Where does the $51 credit go on the amended return?

Any help will be greatly appreciated.
 

smallbushelp

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Filing an amended return means correcting items on the Form 1040 like an addition error or missing information. So what you need to know is, what changed on the 1040 in order to allow you to receive the additional refund? For example, if you didn't initially file form 8962 with your 1040, then there was no entry on line 69 of the 1040. Now that you have to complete form 8962, information from that form needs to go onto the 1040X. You're not trying to fit the credit amounts ($18 and/or $51) onto the return, you're trying to reconcile your taxable income and therefore, the tax refund that you're due, with what the IRS says it should be.

Hope that helps. If not, find a qualified tax accountant to help you out. It may cost a bit of money, but it will allow you to finally receive your refund.
 
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Hi @smallbushelp / Gurus,

I need help on filling out 1040X 2015 for missing form 8962. The only change I amend is Line 15 (Refundable credits from 8962) on 1040X. I filled in column B and C on Line 15 with 1500, that is calculated on Line 26 of 8962, (which was meant for Line 69 of 1040 if I didn't forget to include).

On 1040X, Since there are no changes on On Line 11 (Total tax), Line 12 (Federal income tax withheld), I've entered 0 on column B and the same amount on column C at line 11 and 12. I've entered 1500 on column B and C of Line 15 since this is the only change to amend.

To verify if my 1040X is filled out correctly, I've reworked 1040 as if Line 69 with 1500 from 8962 were included on the 1040 of 2015. But, There is a discrepancy found between the two calculations. 1040X comes up with a bigger refund than Line 75 of 1040. The extra and bigger amount is from Line 16 (900) paid with original tax return.

Any help is greatly appreciated.
 
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smallbushelp

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Hello Sky,

If I understand the scenario correctly, when you filed your 2015 1040, you owed $900 and you paid it at that time. Now you find that you can claim a tax credit of $1500 so you should be owed a refund of $1500. When you reworked the 1040, did it come up with a refund of $600? If so, that's because you missed inputting the $900 payment that you made with the filing of the return. Try reworking it again and somewhere enter either a $900 estimated tax payment or maybe increase your withholding number by $900. Let me know if I missed the mark or if you then get the same refund amount.

Cheers.
 
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Hi Smallbushelp,

Thanks for the quick reply. Yes, You've got the scenario correctly.

I have entries on Line 64 and Line 69 (for 8962) in Payments section of 1040, I haven't found any other entries needed there. the discrepancy seems to occur between Line 70 (Amount paid with request for extension to file) of 1040, and Line 16 of 1040X, that contains "Total amount paid with request for extension of time to file, tax paid with original return, and additional tax paid after return was files..."

https://www.irs.gov/pub/irs-pdf/f1040.pdf
 
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Hi @Smallbushelp,

I've realized that the calculations in 1040X and 1040 (Line 69) with 8962 are consistent.

The reason is that the $900 (I've paid) in the original 1040 filing without 8962 was what I owed. Thus, the both Overpaid 1500 and 600 from 1040X and 1040 with 8962 respectively are consistent. I've missed the simple math on this one. Sorry about that.

Thanks for your help.
 

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