Anyone tried to amend a 2020 1040 for a recovery rebate error. Taxpayers, after signing the 8879 and getting their refund already, decided to go to the irsidentify site and confirm their EIP 1 and 2 amounts. Of course they found they had gotten less than the full amount they told us. So when I bring up the 1040X, click on 2020 tax year, and then go back and correct the Recovery Rebate CR wks..nothing happens on the 1040X. I have to manually enter all amounts, both previous, and corrected, and in some cases, the actual change. I can get to the amount needed as the refund, but never had to do all this before.
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Im thinking paper filing (sent back as incomplete)....does it require the columns be filled for Efiling?
but it doesn't even change the 'credits' amount. Bizarre! So on that line, I had to check the box for 8863, and the 'Other" box, and list Child tax credit/Recovery Rebate Credit. It all works out, I just didn't expect to be so involved in the productiion! HA
I thought IRS would make adjustments if taxpayers didn't report the correct amount of EIPs. Maybe that's only if they try to claim a credit on the return for stimulus that has already been issued.
yes... they had a reduced amount, but still less that what they were entitled to. But they had originally said, "We got all the stimulus monies"...
Just found this @dkh and @Just-Lisa-Now-
A1. If you didn't claim the credit on your original tax return, you will need to file an Amended U.S. Individual Income Tax Return, Form 1040-X. The IRS will not calculate the 2020 Recovery Rebate Credit for you if you did not enter any amount on your original tax return.
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