Va Amended Return

[BOB W]

All I see is a worksheet? Is there another form?

[taxedtothemax]

VA Amended return

Use VA 760 with the revised numbers as if you were completing the return for the first time. There should be a box that your tax program will have you X so it will show Amended on the front of the 760. Page 3 or 4 of the instruction booklet for VA 760has a worksheet that you use to compute the new amount owed or refund. Include this with the return. Hope this helps.

[BOB W]

Use VA 760 with the revised numbers as if you were completing the return for the first time. There should be a box that your tax program will have you X so it will show Amended on the front of the 760. Page 3 or 4 of the instruction booklet for VA 760has a worksheet that you use to compute the new amount owed or refund. Include this with the return. Hope this helps.

Yep, that is what I needed, thanks.

[FEDUKE404]

Actually filed one

Earlier this season I had to file an amended VA return.

As stated above, the return is exactly the same except the "Amended Return" box is checked on the Form 760. The tax return itself will show the correct amount of refund/payment due as if an original return was never filed.

The determination of "Tax you owe" or "Tax you overpaid" by filing the amended return is shown on a separate worksheet which takes into consideration the amount of the original refund or the original balance due/paid.

A side benefit is VA allows efiling of amended returns. From the time of transmittal to the time of the refund being in the bank account was around three weeks!

FE

[Golden Rocket]

2009 Federal 1040X

The federal 1040X tried this concept in 2009. Enter only the correct amount as if the original return had never been filed. Looks like 1040X was revised in 2010 to revert to the classical 3-column approach.

I found the single-column approach to be counter-productive. It made for a cleaner-looking and simple-looking return, but there was no analytical information available for the reader. When you stop and think of all the hoops to jump through for an amended return, you realize you cannot escape the same analysis as what is required for the 3-column. Like all of you, I had to file a few amended returns using the 2009 version, and in every case, I had to enclose a worksheet in my explanation with a 3-column calculation. And yes, I could not do so in the space allotted and had to attach an extra sheet.

For example, client asks you how much more he has to pay or get refunded. You cannot tell him (her) without measuring an incremental difference.