Let say I or my tax service miss a tax deduction in a given year.....can I claim it for the next year's taxes?
2007-07-29 07:21:08 · 5 answers · asked by Whiz77 2 in Business & Finance ➔ Taxes ➔ United States
No, you have to claim a tax deduction in the year it physically happens. What you would need to do is file a 1040X to correct your tax return to what it should have been. You should include the corrected 1040 and any other corrected/new forms. You can't e-file an amended return either, it has to be paper filed. You should also check to see if it affects your state return as well. That also might have to have an amended return. Your tax service might charge you a fee for preparing the amended return, if it was your fault for missing the tax deduction then you should have to pay them for preparing the amended return, if if was their fault it should be done for free.
2007-07-29 07:48:42 · answer #1 · answered by Anonymous · 2⤊ 0⤋
No, any deduction must be claimed in the year the amount is paid, so you can't just deduct the amount the next year. But you can amend the previous year's tax return and include the deduction.
2007-07-29 11:09:25 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Amend your taxes that you all ready had filed. Go back to the tax service that did your taxes. You can amend your taxes now.
2007-07-29 07:25:54 · answer #3 · answered by Gary 5 · 2⤊ 0⤋
no but you can file an amended tax return
2007-07-29 07:26:19 · answer #4 · answered by Anonymous · 2⤊ 0⤋
You can file an amended return for that year, so yes.
2007-07-29 07:24:52 · answer #5 · answered by momofoneson 3 · 0⤊ 2⤋