How to File a 1040X




A 1040X in its most simplest form is filled out if you made a mistake in your tax return that you already filed or came across some new information that could be applied to your already filed return. The IRS made this form due to the fact that the tax system is so complex and know that not everyone knows it by heart. Here is 3 easy steps on how to fill out a1040X FORM

Note if you have multiple years of new information you stumbled across from you will need to file another form. You cannot add different year deductions on the same form.

1. Make sure you have all your documents . Have ready, the information on the new deduction you are making and any new W-2 s that you did not file. (If you don’t have a W-2 then you’ll fill out a Which ever year you are going to amend you are going to be required to have the original return that you filed in which you can find it here.

IRS will give you at most 3 years after a return to amend

How you feel after amending your return.

credits: Carlos Padron

2. The Original Tax Return will serve as a reference for what you are trying to amend. Attach another form involving the income, deduction, and or credit in which you are making the claim for the return. This shows proof on many levels and will be less likely to be sent back.
Remember, you don’t have to fill out a new form, simply just use the previous return and only write in where you are trying to make the claim.

3. File your amended return. Before filing, double check if all the information is correct.

An incorrect 1040X can result in a 20% fine from the disallowance*

It is always important to have a tax preparer that can help you with this kind of information to make sure you don’t get a fine and could potentially find other deductions that you may have and have a greater return.

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