Amended return and the $500 safe harbor

[JenMO]

Can an amended tax be filed to elect the $500 safe harbor if filed before april 15th?

[Maribeth]

It's not an amended return if you file another return before April 15th. The new return replaces the one that was first filed. Now, I understand this procedure. I have never done it. You actually have until October 15th to file an original return and making elections that were not made on the first return.

[JenMO]

Do you send in a 1040x or just another return. Will it be able to be efiled? Probably not, since there is one in there already. But would the mailed return include the 1040x? Not only did i forget to put in the election, some of t he numbers weren't correct either. I guess i got too eager.

[rtsietsema]

Send 1040X

Never send in a second 1040 form for any tax year! From the IRS instructions on the 1040X:

"Do not file more than one original return for the same year, even if you have not received your refund or have not heard from the IRS since you filed. Filing more than one original return for the same year, or sending in more than one copy of the same return (unless we ask you to do so), could delay your refund."

Fill out the 1040x with corrections. The advantage to filing the 1040X before the original deadline is the IRS will not add any penalty for late filing, since the return was filed before the deadline.

1040X is not e-filed either.