How to file 1040x amended return
How to fill out Form 1040X, Amended Tax Return
Timecodes:
hi this is John with PDF Tech's right
now we have form 1040x the amended u.s.
individual income tax return here on the
screen so we're going to spend a little
time seeing how this form works this is
the form that you would use if you made
some kind of mistake on your original
tax return your form 1040 and you needed
to fix that so I've already entered the
names Social Security numbers and
address for this this married filing
joint couple they also have one
dependent although that doesn't show on
on page 1 of 1040 X so let's go ahead
and see how this will work and we're
going to say that this is for year 2017
and I've already checked this box
married filing joint and then over here
we need to indicate whether they had
full health care coverage all year and
we're gonna say yes they did now let's
suppose that on their original return
they had one w2 and that's all they had
for income which was $75,000 so the
first thing we need to do is enter the
original amounts from the original tax
return and then we'll adjust those later
so we'll put $75,000 in here like that
and that carries over just to the
corrected column but we'll we're gonna
change that a little bit later when we
make some Corrections and then on line
two we need to enter their standard
deduction which for a married filing
joint return in 2017 is twelve thousand
seven hundred so put that there and then
with three exemptions one for each of
them and one for their dependent their
exemptions for 2017 is three times 4050
which is twelve thousand 150 like that
so now their taxable income on line 5
shows up as fifty thousand 150 and now
we need to
and our the tax and if you look in the
1040 instructions in the tax table
you'll see that the amount of tax on
50,000 150 is sixty five ninety four
there right there like that and then we
need to tell the IRS how that tax was
figured and the most common method and
the ones that these taxpayer used was
the tax table so we'll put that in there
like that no they also had some income
tax withheld on their w2 of 6800 so that
goes on line 12 and on their original
return they had a refund of 206 dollars
which right now anyway shows up on line
22 but we need to put that on line 18
the overpayment on the original return
of 206 so now their refund at least
right now is zero because they haven't
made any adjustments yet but we'll do
that now so like I said earlier they had
a w-2 form that they forgot to put on
their original return excuse me and the
amount of income on the w-2 the amount
of wages it's twelve thousand so put
that there like that and the standard
deduction doesn't change and the
exemptions don't change so their new
taxable amount is 60 to 150 now if we go
back in the tax table and look up the
amount of tax for 60 to 150 we can see
that that comes up to 83 94 whoops it's
83 94 but we want to put just the
increase and the increase is 1800 so the
new tax is 83 94 and that's still from
the tax table so we'll leave that alone
so there we go like that and however on
line 12 they also had some income tax
withheld on that new w-2 form of $2,000
right there so their total withholding
that was 8800 so we would expect that
since they're withholding increased by
two thousand and their tax increased by
eighteen hundred dollars the refund what
would be that they'd expect a refund of
$200 the difference between 2000 and
1800 and you can see that's exactly what
we have on line 22 that's the difference
between line 11 see on line 19 the
amount overpaid is $200 so when they
send in this tax return they will be
getting a refund of $200 that's how
that's how the 1040x works if you have
any questions about that please put that
in your comments below and thanks for
listening
Related queries:
how to file a 1040x amended tax return
how do i file a 1040x amended tax return
how do i fill out an amended 1040x return
what do i send with 1040x amended return
what is 1040x amended return
