Q&A: Amending my 2011 taxes?

Question by shelbylovesmelby: Amending my 2011 taxes?
From what I’ve seen thus far I have to file a 1040x… I’ve uploaded the form from the IRS.GOV and the form doesn’t contain what I need to change what do I do then? I need to change capitol gains to an installment income that’s all I need to fix as turbo tax won’t allow me to proceed with this years with out amending last years taxes. I’d hate to sell my soul to a tax prep place just to fix a few lines, as the numbers are correct (which seems to be what 1040x allows you to do is to make mathematical fixes). And I know if I call the IRS they’ll tell me “we don’t know Turbo tax software” what do I do? HELP!
I had a down payment for timber given to me in 2011 I claimed that under capitol gains, however, TT tells me that because the contract was dated for 2011 I can not claim the 2nd and final payment from 2012 under 2012′s because I didn’t do it as installment income. I just need to change it from capitol gains on a schedule D to a installment income somehow. TT wants me to pay for 2011′s edition to continue. I had been on Chat to get help but was disconnected and told via e-mail I needed to make an amendment. I tried to call back and after waiting an hour to talk to someone she couldn’t help me with the edition they assigned me to and tossed me to a menu with no valid options.

Best answer:

Answer by tro
I am a bit confused, how does TT know you need to amend your 2011 tax return?
the program I use imports information from one year to the next for my clients but even as good as it is is it doesn’t know that I need to amend the previous year’s tax return
get a copy of the 1040X from www.irs.gov and enter the changes that you need to make on that form, you can only file it manually, you cannot e file it no matter what program you use
in your case, it might be prudent to actually prepare a dummy return that shows the correct reporting of your income, which you can then transfer to the 1040X where the changes apply
you will need to include the schedules required to show the changes made

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Q&A: Amending my 2011 taxes?

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