Introduction:

Filing a US 1040X tax return is necessary if you need to amend your previously submitted tax return. This could be due to errors, oversight, or changes in your tax situation. If you need to make amendments, the 1040X form is the way to go. In this article, we will guide you through three ways to fill out a US 1040X tax return.

1. Manually by Paper:

One of the traditional methods of filling out a 1040X tax return is to do it manually using a physical form. Follow these steps to complete the process:

1. Obtain Form 1040X: You can either download and print the form from the IRS website or request a copy at your local post office or an IRS office.
2. Fill in your basic information: Complete the required fields, including your name, address, social security number, and filing status.
3. Indicate Changes: In columns A, B, and C, write down the original amounts reported on your tax return (column A), the net changes you are making (column B), and the correct amounts after amendment (column C).
4. Provide Explanations: Give detailed explanations about each change made in Part III of the form.
5. Attach Supporting Documents: Include any additional forms or schedules that support the changes made on the amended return.
6. Mail Your Amended Return: Once completed, double-check all details for accuracy before mailing it to the appropriate IRS office as indicated in the form’s instructions.

2. Using Tax Software:

Another way to complete a 1040X tax return is by utilizing tax preparation software that supports amended returns. Here’s how it is done:

1. Access Software: Load up your chosen tax software and open your previously filed tax return.
2. Locate the Amended Return Feature: Find the feature to prepare an amended return within the software, and select it.
3. Make Changes: Input any modifications needed for your return following the software’s prompts and guidelines.
4. Review and Save: Carefully examine the information for accuracy, and save your modified tax return.
5. Print and Mail: Tax software typically does not support e-filing for amended returns, so you’ll need to print the 1040X form generated by the software, sign it, and mail it to the IRS along with any supporting documents.

3. Hiring a Professional:

If you find the process of amending a tax return too complicated, consider hiring a professional tax preparer or accountant. They can help you by:

1. Assessing Your Situation: Advise you on whether amending your tax return is necessary based on your circumstances.
2. Preparing Your 1040X: Fill out Form 1040X accurately while keeping your best interests in mind.
3. Attaching Supporting Documents: Ensure that all relevant additional forms or schedules are included with your amended return.
4. Submitting Your Amended Return: A professional will either mail or file your amended return electronically on your behalf, depending on their e-filing capabilities.

Conclusion:

Filling out a US 1040X tax return is essential if there are changes to be made to your already filed tax returns. Choose between manually preparing the form, using tax software, or hiring a professional based on your comfort level and confidence in handling tax-related matters. No matter which method you select, remember to review everything carefully before submitting and keep copies of all forms for future reference.