In 2004 I put the incorrect amount of short term capital loss income carry over from my previous 2003 return. I entered an erroneous amount (less than what I should have put) because I didn't have my 2003 records to know how much I could carry over in 2004. Then in 2005 I was able to get my 2003 records to know what I should have put in 2004 as the carry over so I put in my correct carry over amount from 2003 minus what I deducted ($3000) from 2004 and put the accurate figures now in my 2005 tax return as the carry over amount BUT.. i mistakenly put it under long term capital loss carry over instead of short term.
I know this was very careless on my part and I'm not going to take my time next time and get things right but for the time being, does this warrant a tax audit? And should I fill out a 1040x to correct all this or does this even matter since they do have my 2003, 2002, on file to cross reference right?
2006-11-04
05:10:06
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2 answers
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asked by
unhappy
1
in
United States