Made a huge mistake due to many 1099's(whatever) mortgage interest forms. I file my 2006 taxes already electronically. I forgot to add one of the mortgage interest 1099 to my taxes. Is there anything I can do? Can I use it next year?
2007-02-01 01:24:00 · 4 answers · asked by doyle_cranburg 1 in Business & Finance ➔ Taxes ➔ United States
You file an amended return on form 1040X. You can do that now - or you might want to wait for a couple of months to make sure there isn't something else you missed. For example, if you have any dividend income income I can almost guarantee you'll get at least one revision before April.
2007-02-01 01:32:33 · answer #1 · answered by SDD 7 · 0⤊ 0⤋
No, you can't just use it next year. But if it makes enough difference to mess with, you can amend your 2006 return.
If it's say $300 or something, and you're in a 15% bracket, would save you $45. If you are going to pay someone else to do the amended return, could end up costing more than that and not be worth it. But if you are going to do the amended return yourself, or if it's for a large amount, then you might as well do it.
2007-02-01 11:09:03 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
You don't have to wait until next year, and it wouldn't help you next year anyway. You can file an amended return for this year. I don't know if you can do that electronically, but you can download the form and send it in via US Mail.
2007-02-01 09:28:31 · answer #3 · answered by Insurance Biz CT 5 · 0⤊ 0⤋
1) do a 1040x to correct your federal return last year
2) leave 2006 fed return alone and just do it normal.
2007-02-01 09:37:35 · answer #4 · answered by Kenshin 5 · 0⤊ 0⤋