I received a 1099-R after filing my return. This was for a 401k distribution. Do I need to file an amended return and does it matter if the distribution was under 250.00 and tax withheld was under 45.00? If I do need to refile what forms do I use? Thanks.
2007-02-06 03:31:00 · 4 answers · asked by Laine W 2 in Business & Finance ➔ Taxes ➔ United States
Definitely file an amended return. And learn a lesson from this- dont file before sometime in Mid-February, since companies/employers have until the end of January to send out the W2's.
2007-02-06 03:39:05 · answer #1 · answered by bmwdriver11 7 · 2⤊ 0⤋
Yes, it's better that you file an amended return to avoid getting a question from the IRS later. The form is 1040X. Follow the instructions very carefully.
2007-02-06 03:51:40 · answer #2 · answered by Ovrtaxed 4 · 1⤊ 0⤋
You will need to amend and you will need to owe some additional money. You definitely did not pay the full tax due. The amount they took out was your penalty for early withdrawl (10%), you are still going to owe tax on this income which was previously unclaimed. The amount you owe will be based on your individual rate.
2016-05-23 23:39:43 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Amend your Return. 1040X.
That information is supplied to the IRS as well.....its only a matter of time.
good luck & blessing
2007-02-06 03:35:17 · answer #4 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋