If I forgot to take a real estate tax deduction in 2005, can I take the amount paid in 2005 and 2006 this year

Answer 1

No. You cannot deduct amounts paid in 2005 on your 2006 return. You can however file an amended tax return for 2005 and claim the missed deduction. Depending on the state you live in you should also amend the state return also. (You may live in a state with no tax such as Florida, in which case there is nothing to amend.)

If you used computer software last year just go back into last years program and look how to prepare form 1040X for the Feds and I do not know what state you're in so.....

You can also prepare the 1040X manually, any forms you need can be found at www.irs.gov. Just about every state I can think of also has their tax forms online now also.

Answer 2

If you did not take a deduction on your 2005 tax return you need to file a form 1040X-amended tax return for 2005 and add the deduction on the form. You cannot add your 2005 deduction onto your 2006 tax return. Good luck.

Answer 3

No, expenses must be deducted in the year when they are paid. So for anything you paid in 2005, you'd have to amend your 2005 return to make the change.