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Taxn2
Returning Member

Amendment with from 1098-T

Hi, first time filing tax here.

My return was submitted and accepted last week, and I realized that I forgot to include form 1098-T from Wisconsin. I went back and amended my return, included the form 1098-T. Turbotax while amending showed the new federal refund amount that was about $1.3k more than what I was supposed to receive prior to amending. I also realized that I have to re-file Minnesota state tax, where I worked, through mail.
After completing the form and receiving an email that my federal amended return has been accepted shortly after, the amount that shows up on my Turbotax page is still the initial amount instead of the amended amount. Here are my questions...

1. Does it take a while for Turbotax to accurately show me the amended value?

2. I have to mail my mx1 form to finish filing my tax for Minnesota, and it states "Your Minnesota state amended tax return shows no balance due or refund amount". Before amending with 1098-T, my Minnesota tax refund was $774. Does the above statement mean there is no change from the originally filed refund amount? or does it mean that I am not getting any refund from Minnesota?
3. If for the above question the case is that I in fact am not getting anything back from Minnesota, why is that the case? Does adding a form 1098-T from Wisconsin to my federal refund affect Minnesota tax?

 

I would really appreciate your help! I can provide additional information if there is anything unclear. Thanks!

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3 Replies
AmyC
Expert Alumni

Amendment with from 1098-T

You are supposed to file the first return, it processes and all money is settled before you file an amended return. It sounds like you filed an amended return before things were processed and that can gum up the works.

1. The refund meter has no idea what is accurate after filing an amended return since either or both of your returns can be adjusted by the IRS. The actual paperwork showing your amend should be correct.

2. Do not mail the amended form until the first one is processed. Look at your amended form. Does it show that you already received the refund of $774? If there is no change in tax liability, you would not be due an additional refund or owe.

3. The 1098-T could cause no change or a tax liability depending on your circumstances. If you file an amend with the federal, MN will look for an amended as well

See Amending a MN Income Tax Return

4. . We have no idea why you are filing MN or WI so without more information, we can't even guess. If you are adding MN income to a MN return, that could change your tax liability.

 

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Taxn2
Returning Member

Amendment with from 1098-T

You are supposed to file the first return, it processes and all money is settled before you file an amended return. It sounds like you filed an amended return before things were processed and that can gum up the works.

1. The refund meter has no idea what is accurate after filing an amended return since either or both of your returns can be adjusted by the IRS. The actual paperwork showing your amend should be correct.

2. Do not mail the amended form until the first one is processed. Look at your amended form. Does it show that you already received the refund of $774? If there is no change in tax liability, you would not be due an additional refund or owe.

3. The 1098-T could cause no change or a tax liability depending on your circumstances. If you file an amend with the federal, MN will look for an amended as well

See Amending a MN Income Tax Return

4. . We have no idea why you are filing MN or WI so without more information, we can't even guess. If you are adding MN income to a MN return, that could change your tax liability.

 

Good morning,

 

Yes, I already filed an amended return before the original return is settled. So if I understood correctly, if my original form m1 states that $774 is my return and the amended return form m1x tells me that I do not owe anything, I should be receiving the $774, right? I am filing WI because that's the state I live in, and MN because I worked there for the second half and paid tax there. Based on my understanding so far, I will receive the original amount(assuming there is no modification made from the IRS) three weeks after the first filing, and either pay what I owe or receive additional refund after the amendment is processed. If so, what should I do next? Do I wait until I receive the original return and mail the Minnesota return? Please advise me with what to do next. 

AmyC
Expert Alumni

Amendment with from 1098-T

Yes, since you have not filed the amended return with MN, let the original process, get that money and then file the amended return. Since it shows no balance due or additional refund, you must not be changing your tax liability.

 

Since you live in WI, you would normally file an amended WI with the additional income and a credit for the MN tax but I am not convinced you need to since there is no change in MN liability, there would be no change to WI either. I don't think it needs to be filed.

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