IRS Form 1049-X is used by taxpayers in the United States, this form is used to amend previously filled Form 1040, 1040-SR, or 1040-NY. The IRS Form is used to correct errors, make changes, claiming missing tax credits or deductions on a previously filed return. Form 1040-X is the appropriate form to fill if you need to correct your filing status, adjust your income, and even claim overlooked credits.
How to Fill Out Form 1040-X
Filling out Form 1040-X is easier than you can imagine, here are the 7 easy and straightforward steps you can follow:
Step 1: The first step is to obtain the correct form and instructions.
When obtaining the form, it is best to ensure that you have gotten the latest version of Form 1040-X as well as the instructions for the year that you are amending. This Form 1040-X can be found on the IRS website.
Step 2: Ensure that you have your original Tax return and supporting Document
Gather up all your original tax returns ( Form 1040, 1040-SR, or 1040-NR) as well as all the relevant documents as well (W-2s, 1099s, etc) ready to go. This will come in handy in helping you to identify the changes that need to be made.
Step 3: Complete the Information at the Top of Form 1040-X
The third step is to fill in the basic information at the top of the form, this information could include, your name, address, and social security number (SSS). If you are filling the Form 1040-X jointly then you should include your spouse’s information as well.
Step 4: Explain the Changes
In this next step or Form 1040-X you will carefully provide concise and easy-to-understand explanations of the changes you are making. This section is important because it helps the IRS to have a proper understanding of why you are amending your return.
Step 5: Carefully fill Out columns A, B, and C
- Column A: For column A you will enter the amount from your original return or the latest amended return.
- Column B: In this column, you will enter the net increase or decrease for each line you are changing.
- Column C: you will enter the corrected amount after the changes have been made.
Step 6: Recalculate Your Tax Liability
Based on the correction made, you will calculate the changes in your tax liability based on the correction you made. This will include adjusting any tax credits, deductions, and tax-taxable income.
Step 7: You will attach all necessary forms and documents
For the final step, you will include all forms or schedules that change due to the amendments. You will need to attract copies of any documentation that supports these changes.
Where to Submit Form 1040-X
- Mailing the Form
For most years Form 1040-X cannot be e-filed. You must mail the form to the IRS, where the mailing address of your residence. To find the appropriate address you should refer to the instructions for Form 1040-X.
- Checking the Status of Your Amended Return
If you are looking for where to submit your Form 1040-X you should check the status of your amended return by using the “Where’s My Amended Return?” tool on the IRS website. You can also call the IRS at 866-464-2050. The whole process can be up to 16 weeks.
