How much is my amended return going to be?

You will probably get between $3800 and and $4000. The tax on $600 is usually less than $200.

However, it is possible for the amount that your total tax increases to be more than $600, in some special situations. For example, if the extra $600 means that you are not eligible to deduct something that you already deducted, then your deductions need to be recalculated. For example, if your income was originally $100,000, and you deducted $90,000, and paid tax on $10,000, but the extra $600 means that you are no longer eligible to deduct $90,000, and have to pay tax on all $100,000, then you owe tax on the other $90,000, plus the $600 you just got. And the tax on $90,600 would be more than $4000, so you would get back nothing and would have to pay a lot. This is not a likely situation, but it is theoretically possible.

Just get it done correctly NOW ASAP and then you will really know the correct answer once the 1040X amended individual income tax return and all forms and schedules that would have to be used for your situation are correctly completed down to the bottom of the page where you would find the correct REFUND or OWE amount would be at that time.

Use the search box at the www.irs.gov website for the Instructions for Form 1040X (12/2011)

http://www.irs.gov/instructions/i1040x/index.html

Lines 1 - Through 31—Which Lines To Complete

http://www.irs.gov/instructions/i1040x/ch02.html#d...

Before looking at the instructions for specific lines, the following information may point you in the right direction for completing Form 1040X.

Payments and refundable credits Lines 10–22

You are changing amounts on your original return or as previously adjusted by the IRS. Because Form 1040X can be used for so many purposes, it is sometimes difficult to know which part(s) of the form to fill out. Unless instructions elsewhere in this booklet tell you otherwise, follow the rules below.

Always complete the top of page 1 through Amended return filing status.

Complete the lines shown in the following chart according to what you are changing.

Check a box in Part II, if applicable, for the Presidential Election Campaign Fund.

Complete Part III, Explanation of changes.

Sign and date the form.

And maybe you might want to try to do a estimate for the 2011 income tax return at this time.

1040 Tax Calculator (Tax Year 2011) [Calculator]

Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2011. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2012. In 2011, Federal income tax rates were scheduled to increase to pre-2001 levels, but the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" left the existing tax brackets in place through 2012.

http://www.dinkytown.net/java/Tax10402011.html

Hope that you find the above enclosed information useful. 05/27/2012

It's MORE complicated than your posting

Go to same preparer or software used to prepare your original return

Use that to prepare an amended return

Alternatively, print a copy of your original return and use that to create an amended return

Taxing is done by brackets, and if additional income pushed you to a higher bracket. . . . . . .

But an increase of $4000 in income....your posting is very confusing with $600 increase when #s show a $4000 increase, etc. You need to do it, or have it done to figure this out

you report the changes, the $600 increase in income and the $4000 increase in tax withheld on a 1040X

It is a bit more complicated than that: you will owe more because your income is higher which will offset some of the increase in withholding.

Probably pretty close. If you received EIC, it will affect that amount too (either up or down), so it's not a totally easy calculation.

I was about to ask this question too yesterday