Video instructions and help with filling out and completing Fill 1041 Schedule I 2019

Instructions and Help about Fill 1041 Schedule I 2019

In this tax layer pro training video we're going to go through the process of preparing an amended federal and state tax return alright let's look at how to do an amended return and tax layer Pro now I've opened up a tax return this clients return has already been accepted and he called me up and he said that he received another w-2 that we need to enter into his 2014 tax return so the first thing I'm going to do I'm not going to enter that w2 into the software just yet the way our amended program works I'm going to there's a couple of ways I can get into the 1040x the amended return I can go to number nine here miscellaneous forms and I can select the 1040 X I can go to form finder do a search for keyword 1040x but 1040 X is sitting right there so the easiest way to do this from the clients 1040 screen I'm just going to double click on 1040 X right there and begin the federal amended return I'm reminded that I need to have a printed original copy of this return prior to making any changes I'm gonna hit OK on that message I'm now at the 1040x menu and I'm going to begin by clicking number one at a 1040x menu I'm going to do a 2014 amended return hit ok and again the way our program works you notice I have not made any changes to the original return I have not made any changes to the way that return was originally accepted so what I'm going to do is pull the data the client stated to the original column on the 1040 X if you print out a 1040x you know that it has three columns to it so I'm going to pull the data to the original column the way the return was originally accepted here I get a reminder that if any states also need to be amended I need to exit the federal amended return and pull the original column to the state amended return for all states affected so I'm going to click OK on that message and here you can see that I have pull the data to the original column on the 1040 X menu so I'm going to exit this menu exit the form 1040x menu and I'm now back at the clients 1040 screen next I'm going to go to the state return I'm need to keep that little message in mind reminding me to also do the same for the state returns I'm going to go to the state return number 10 my client was a Georgia resident I'm gonna reopen his Georgia return now we want to keep in mind that different states have different options for their amended returns some states have their own amended form some states nothing more than a checkbox in other categories of personal information Georgia happens to have a little check box indicating that this is an amended return in other categories of personal information but I have not made any changes to the return yet so I'm not going to check this box quite yet I'm going to exit back to the federal return now that I've pulled the data to that original column on the 1040 X I'm going to add the W to that my client called me about so I'm going to go to the income menu w2 I'm going to add a new w2 here I'm going to enter in the information on the clients w2 that he just received and now I've entered in the changes that we need to make to the return on the federal side now that I've entered that w-2 I'm gonna go back to the 1040x the federal 1040x number one edit 1040x menu 2014 amended return hit ok now that i've made the corrections i'm going to pull the data to the corrected column so I'm gonna let the program do the calculations for me when I hit OK notice I've got the original column filled in and now I have a corrected column now before I leave this menu I'm just going to put in a brief explanation up here number one questions and explanations number nine explanation I'm just going to type in client received another w2 hit OK exit I'm going to exit back to the clients 1040 screen and now I'm going to take care of that state return so I'm going to go to the state return Georgia resident going to personal information number one there's other categories remember we had a spot here to mark that this is an amended return I'm going to check yes this is an amended return I'm gonna pull the federal explanation forward exit exit back to the clients 1040 screen and now that I'm back at the clients 10:40 screen what I'm going to do is click on number 11 view results I'm going to bring up that 1040 X and I'm going to print that 1040x out get it ready for mailing for my client and I'm going to do the same thing for the Georgia amended return and that's how you prepare an amended return in tax layer Pro pretty straightforward the most important thing to remember is don't make any changes on the way the return was originally accepted until you pull to the original column of the 1040 X then go back make your changes to the return pulled it to the corrected column on the 1040 X let the program do the calculations for you thanks for watching