My original 2010 tax return has a refund of $100, which I applied to
2011 est. taxes. Then I received a revised K-1. Now I owe $25 -- i.e. IF I had filed an extension and filed my 2010 tax return now, my tax refund would be $75 ($100-25).So the question is must I write a check now for that $25? Or can I reduce the amount of refund applied to 2011 Est. Taxes from $100 to $75?
If the later, how do I do it on Form 1040X? Right now, 1040X, line 19 shows $25 owed. Do I put a (25) on line 22?
P.S. On the revised Form 1040, line 72, it now shows $75 as the amount applied to 2011 Est. Taxes (as opposed to $100 on the original
1040).TIA