Can you put the 1099-R of 2005 into 2006? Thanks.
2007-02-01 01:24:00 · 5 answers · asked by www.usanetsol.com 3 in Business & Finance ➔ Taxes ➔ United States
The income on the form was reported to the IRS by the company that issued the retirement checks in the year it was sent to you. When Uncle Sam gets around to matching their files they'll know you were short on income in '05. If you try to "catch up" in '06 you'll really botch up things. You should submit a Form 1040X to amend your '05 tax return and report your '06 earnings in the proper year.
Go the the IRS web site and Search for "Amending Your Tax Return". The correction is not complicated.
http://www.irs.gov/pub/irs-pdf/f1040x. pdf (without the space) will bring up the form
2007-02-01 01:57:40 · answer #1 · answered by Taylor1 3 · 1⤊ 0⤋
No, each tax year is separate. You have to go back and amend your 2005 filing if you filed, or file a 2005 return if you didn't.
If you don't deal with this now, you'll be getting a letter from the IRS one of these months telling you that you left it off, and telling you how much tax THEY feel you owe on it and telling you to either show why you think they're wrong, or send them a check. They were just doing 2004 returns this summer for this type of thing, so it could be a couple months yet before they get to you, but they WILL.
2007-02-01 03:06:27 · answer #2 · answered by Judy 7 · 0⤊ 1⤋
I am no expert but I would suggest filing an ammedned 2005 tax form.
2007-02-01 01:29:03 · answer #3 · answered by Josher 3 · 1⤊ 0⤋
You need to amend your 2005 return.
2007-02-01 01:49:07 · answer #4 · answered by Wayne Z 7 · 0⤊ 2⤋
That's a great big "depend on what your total income"
2007-02-01 01:35:20 · answer #5 · answered by Kenshin 5 · 0⤊ 1⤋