In 2005 I work very little (SAHM) I think my gross was under 500, I was told being so low I didnt have to file. Last year, 2006, Ive worked most of the year and just got my W2, I was gonna bring my 2005 in but I can not find it anywhere. Can I go ahead and file normally 2006 or is there gonna be some type of problem about my 2005 W2?
2007-01-25 06:30:50 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
no problem at all. You should only report 2006 income in any case.
2007-01-25 06:37:31 · answer #1 · answered by skip 6 · 0⤊ 0⤋
About 99.99% of individuals are cash basis taxpayers, meaning you only have to claim the income earned and can only deduct or exclude expenses paid during the taxable year in question. So becaue you didnt have to file in 2005 than that income will never be taxed again, ever. The wages you earned in 2006 (depending on if you made more than the filing requirement) will be on your 2006 1040.
2007-01-25 06:43:38 · answer #2 · answered by emeraldsky21 2 · 0⤊ 0⤋
Yes you can file normally, your W2 from the previous year has nothing to do with your 2006 tax return.
2007-01-25 06:40:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Each year is taken separately. You cannot claim your 2005 earnings on your 2006 tax return.
2007-01-25 06:37:54 · answer #4 · answered by jseah114 6 · 1⤊ 0⤋
No, each year must be filed separately! There is a common misconception that a person may add one year to another.
good luck & blessings
ps. you weren't required to file if your total wages, tips and earnings were under 500., but if you were between 25 - 65 years of age, you were probably eligible for EIC (Earned Income Credit), unless you were the dependent of someone else.
2007-01-25 06:45:24 · answer #5 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
If you didn't earn enough in 2005 to file, you don't file your 2005 stuff in a later year, you just forget about it.
2007-01-25 18:20:07 · answer #6 · answered by Judy 7 · 0⤊ 0⤋