I received a K2 form and lost $8200 for year 2006. However I filed a joint return with my spouse for the first time and reported I didn't make any income. What can I do?
2007-04-21 11:50:02 · 10 answers · asked by nycoolman 2 in Business & Finance ➔ Taxes ➔ United States
File a 1040-X as soon as you can. I suggest going to a tax professional to help you out, as trying to "paper file" with a K2 can be difficult.
2007-04-21 11:53:23 · answer #1 · answered by Erin 2 · 0⤊ 0⤋
Jo has no knowledge of a K2,, never heard of one
but in case you meant K1
file an amended return, (1040X) include loss from K1 on Schedule E pg 2 then transfer to form 1040 page one line 17
your loss is deducted from other income
send IRS a copy of new return with 1040X
on pg 2 of 1040X at bottom is place to write explanation of why you are amending
2007-04-21 12:03:39 · answer #2 · answered by Jo Blo 6 · 1⤊ 1⤋
File an amended return
2007-04-21 12:14:22 · answer #3 · answered by bestbet77 3 · 1⤊ 0⤋
I agree with everyone that said to file an amended return (1040X). The good news is that since you originally reported too much income, there will be no underpayment penalties.
2007-04-21 13:24:35 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
If you filed incorrectly, you can file an amended return. My dad just did that recently because his tax software had an incorrect table in it.
2007-04-21 11:56:57 · answer #5 · answered by William S 3 · 1⤊ 0⤋
File an amended claim.
2007-04-21 11:54:08 · answer #6 · answered by Max 6 · 1⤊ 0⤋
the prosperous pay lots of the taxes already. 50% of the inhabitants will pay no earnings tax in any respect. the government has lots of funds. they only might desire to stay interior of their potential. i stumble on it very annoying that maximum of liberals have faith that permitting human beings to maintain their very own money is someway a recent from the government. earnings no longer seized by punitive taxation isn't in any way a recent to the taxpayer.
2016-10-28 15:48:13 · answer #7 · answered by hric 4 · 0⤊ 0⤋
You can definitely amend tax returns from previous years, but I would leave that up to an accountant.
2007-04-21 11:54:48 · answer #8 · answered by mystery_me 4 · 1⤊ 1⤋
You can re file but will have to pay the preparer again.
2007-04-21 11:54:41 · answer #9 · answered by Anonymous · 1⤊ 1⤋
Get a high paying job or get a raise...
2007-04-21 11:53:41 · answer #10 · answered by Anonymous · 0⤊ 2⤋