Can I enter 2005 1099-misc income as 2006 1099-misc?
2007-03-03 20:30:54 · 5 answers · asked by chabi1us 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
No.
You have to file a 2005 return - and pay penalties on any tax that you owe. Won't be that much. Just download the forms and read all about it. Links below.
2007-03-03 20:33:54 · answer #1 · answered by pepper 7 · 0⤊ 0⤋
No, you can't just combine the years. For the 2005 income, you'll have to file an amended return if you filed for 2005 but didn't include this income. If you didn't file at all in 2005, then you need to do so as soon as possible. It will be a separate return from your 2006 income - be sure to use the right forms and instructions.
2007-03-04 09:30:23 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
The evaluation of your 2006 go back should not be affected in any way via you no longer submitting your 2005 go back. that is a separate procedure. If there are such issues as loss carrybacks it will be protected on your 2006 evaluation word. once you do not have any income in 2005 you do not might want to report a go back except you're requested via CRA to finish that.CRA has a "matching"software that suits employment, pension, funding and different income with persons that opt for no longer to report. In circumstances the position there appears a debit CRA will first request a go back and then do an arbitrary evaluation if no go back is supplied in. As you do not have any income then you definately should not be in this gadget.in case you had company or self-employed income in 2004 or in the previous CRA would nevertheless do an arb for you lower than the concept that you're nevertheless in company yet they're going to request that you report first. although that is a fantastic theory to report a go back for 2005 to get it on record once you've complications contained in the destiny. operating example in case you opt for to make a fairness declare you'll have all returns filed up for this reason far. overdue submitting consequences and resultant pastime are charged presented that there are outstanding taxes due on April 30 contained in the year you're submitting for.
2016-11-27 20:23:30 · answer #3 · answered by ? 4 · 0⤊ 0⤋
nope.
Each year's return has to be done separately.
2007-03-03 20:34:03 · answer #4 · answered by Anonymous · 0⤊ 0⤋
NO they have to be separate.You will be better of not to file,like you have.clam them together-go to jail.
2007-03-03 20:46:04 · answer #5 · answered by cr-bren 2 · 0⤊ 2⤋