My wife and I are students, I got help from a tax clinic when filing our taxes this year. My parents reached out about a 1099 that was sent to their house after we had already filed (employer was from 3 years ago, only had my old address). There is $500 that I forgot about, that I did not account for on our taxes. Our AGI barely broke 65k. I ran this through AI and it says we should wait to receive the return and then file an amendment for the 500. My questions:
- Is this good advice?
- Do I need to worry about how this will affect our return and other numbers?
- Do I need to go back to the clinic to get this filed?
- If I do it myself at home, would something like freetaxusa work or do I need some other software?
Advice? I've never done this before, but I'm trying to learn so I can do next year's without help. I'm not sure if I'm asking the right questions but that's why I'm here for your wisdom.
Posted by Hungry-Churro
2 Comments
Wait for the IRS to send you a bill if you owe anything and pay it.
When did you receive the income? ifyou received the $500 in 2025, yes you should amend your return after your initial refund is received. You can use freetaxusa to file, but you will have to rebuild your 2025 return to match the exact one that was filed and then can file the amended 1040X return.