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Messed up my taxes - What do I do?

GPIA7RGPIA7R Registered User
edited January 2012 in Help / Advice Forum
I just finished submitting my Federal and State taxes via Turbotax. They're both currently in pending state.

I just recalled that I messed up on the state portion when entering my rent paid for 2011. I was entering it for my new address, in which I put "2" months for how long I paid rent there, as well as the total for two months of rent. It never asked me to input my previous address's months and rent, which would amount to quite a bit.

Would my return have been higher or lower because of this omission? TT says I have to wait for it to get accepted or rejected before anything can be done. IRS isn't contactable until Monday. I want to call them and tell them I made the mistake before they get it...

What's the best way to handle this?

Posts

  • DjeetDjeet Registered User regular
    Caveat: my state doesn't have income tax.

    But, I don't see how much rent you're paying would affect your refund unless its subsidized by Tue govt. That said, when I file my taxes the software never asks how much I'm paying rent/mortgage-wise. You can always refile if you think you're owed money.

  • mrt144mrt144 King of the Numbernames Registered User regular
    im curious which states allow rent deduction

  • Eat it You Nasty Pig.Eat it You Nasty Pig. tell homeland security 'we are the bomb'Registered User regular
    edited January 2012
    wait for your return to get accepted; once that's happened you can file amendments to your return. I have no idea what form you'd use for this, but I assume turbotax has an automated process.

    if the error is gross enough that your return actually gets rejected, you an just re-file it with the correct information

    Eat it You Nasty Pig. on
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    stand up! It was the smallest on the list but
    pluto was a planet and I'll never forget
  • GaslightGaslight Registered User regular
    I don't have anything very helpful to offer (unless you derive some amusement from me pointing this out I guess) but I'd just like to say your avatar goes great with your post.

    Beyond that, I would say first of all, don't stress over it, at least not to the point where you actually look like that 3PS avatar in real life. I'm not sure calling them is a good idea because I am guessing that people actually voluntarily contacting the IRS to say they made a mistake on their return is not something that happens often and you may get transferred around and put on hold for God only knows how long. I think the advice above from Eat it You Nasty Pig is very sound.

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  • GPIA7RGPIA7R Registered User
    Looks like Indiana has a $3000 rent deduction? The two months I claimed added up to about $2000. So would putting the entire year have made my return larger? Not 100% sure how deductions work in that case.

  • GdiguyGdiguy San Diego, CARegistered User regular
    edited January 2012
    mrt144 wrote:
    im curious which states allow rent deduction

    I know California does, as long as you're making less than a certain amount and your rent is below a certain amount (which has saved me a fairly significant amount over the past couple years, as it's on top of the standard personal deduction)... it probably varies heavily from state to state

    GPI - how bad are your taxes? It may be worth just downloading the paper forms and doing it by hand to see whether it will make a significant impact... it's certainly possible that it would get you some money back, but the amount is going to depend a lot on what your total taxes were (which is probably not something worth posting publicly here)

    Gdiguy on
  • etdragonetdragon Registered User regular
    wait for your return to get accepted; once that's happened you can file amendments to your return. I have no idea what form you'd use for this, but I assume turbotax has an automated process.

    if the error is gross enough that your return actually gets rejected, you an just re-file it with the correct information
    This is the correct way to handle it. My husband (CPA) says that Turbo Tax should have all the information you need about filing amendments in there somewhere. I can check with him about your situation with the rent but I think you're correct that you may be due a larger return but not necessarily by a ton considering the state only allows up to $3000 deduction and the two months you did input already add up to 2/3 of that.

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  • GPIA7RGPIA7R Registered User
    I'm getting plenty back on federal, and a decent amount on state. But yeah, I just didn't want to get audited or anything! I'll wait it out and see what comes of it. I didn't know there was a limit on the deduction, so since it's already 2/3 claimed, it might not be worth doing.

  • xThanatoSxxThanatoSx Registered User regular
    I did something similar last year - I filed my taxes via turbo tax online before getting a 1098T form.

    Forrtunately, TurboTax online is pretty awesome in that you can go back in and make the changes and see if it changes things. If it does, it'll let you print out the 1040X forms to mail in. If it makes no difference... then it makes no difference.

  • CauldCauld Registered User regular
    edited January 2012
    You won't get audited for this mistake. So don't worry about that. The mistake benefits the government, so there wouldn't be any penalties anyway. Take all the good advice from this thread and file an amended return if you're really concerned about it.

    You may want to take a few minutes and do some research to estimate how much of a difference this will make, I'm guessing not very much. There should be a schedule online from your state where you look up your income and the rent you've paid to see how much of an impact it makes.

    And if it makes you feel better go ahead and call them. I've always been impressed by the IRS when I've called them (I know this is the state equivalent, but still). In my experience people who answer phone calls like this are happy to get calls from someone who's polite and genuinely interested in getting help.

    Cauld on
  • ceresceres Just your problem OoSuper Moderator, Moderator mod
    That reminds me...

    I've got my own life and I've got my own plans
    I hope you understand, and like the way that I am
  • etdragonetdragon Registered User regular
    Checked in with my husband. He said considering the amounts the most difference it will make is maybe $50 that you'll be due back. Also, he said you have two options 1) wait and file the amended or 2) Just refile the return with the corrected numbers. He said 1 is the best option because the refile can sometimes confuse the state organizations and cause a headache. Also, you don't get audited for mistakes like these so don't stress about it.

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  • GPIA7RGPIA7R Registered User
    Sounds good. Looks like both Fed and State were accepted today, so if I find time I'll work on an amendment later in the week.

    Thanks!

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