Daycare.com Forum
Daycare and Taxes>Amending My 2012 Return
wdmmom 07:38 AM 02-21-2013
We filed our taxes 2 weeks ago. The refund is expected by next Wednesday.
2 days ago, with our mortgage invoice, we receive an updated version of our 1098.
Apparently Wells Fargo "forgot" to add our property insurance in there. After talking to our tax agent, it will net us around $230 to do an amendment BUT it will cost $100 just for the amendment?
I'm confused on why it should cost $100 for an amendment when the actual taxes only cost us $230.
Can people file amendments themselves and if so, how? Do you think there would be a place out there that would do it for less?
It doesn't seem to be too advantageous to file the amendment if we are going to pay almost 50% of what we'd get back.
2 days ago, with our mortgage invoice, we receive an updated version of our 1098.
Apparently Wells Fargo "forgot" to add our property insurance in there. After talking to our tax agent, it will net us around $230 to do an amendment BUT it will cost $100 just for the amendment?
I'm confused on why it should cost $100 for an amendment when the actual taxes only cost us $230.
Can people file amendments themselves and if so, how? Do you think there would be a place out there that would do it for less?
It doesn't seem to be too advantageous to file the amendment if we are going to pay almost 50% of what we'd get back.
TomCopeland 11:14 AM 02-21-2013
Originally Posted by wdmmom:
We filed our taxes 2 weeks ago. The refund is expected by next Wednesday.
2 days ago, with our mortgage invoice, we receive an updated version of our 1098.
Apparently Wells Fargo "forgot" to add our property insurance in there. After talking to our tax agent, it will net us around $230 to do an amendment BUT it will cost $100 just for the amendment?
I'm confused on why it should cost $100 for an amendment when the actual taxes only cost us $230.
Can people file amendments themselves and if so, how? Do you think there would be a place out there that would do it for less?
It doesn't seem to be too advantageous to file the amendment if we are going to pay almost 50% of what we'd get back.
Don't amend your tax return until you get your refund.We filed our taxes 2 weeks ago. The refund is expected by next Wednesday.
2 days ago, with our mortgage invoice, we receive an updated version of our 1098.
Apparently Wells Fargo "forgot" to add our property insurance in there. After talking to our tax agent, it will net us around $230 to do an amendment BUT it will cost $100 just for the amendment?
I'm confused on why it should cost $100 for an amendment when the actual taxes only cost us $230.
Can people file amendments themselves and if so, how? Do you think there would be a place out there that would do it for less?
It doesn't seem to be too advantageous to file the amendment if we are going to pay almost 50% of what we'd get back.
You can file your own amended tax return. It's IRS Form 1040X. It's pretty straightforward. I have a chapter in my 2012 Family Child Care Tax Workbook and Organizer that describes how to fill it out. If you do it on your own and have questions, call me at 651-280-5991 and save $100.
wdmmom 11:31 AM 02-21-2013
Originally Posted by TomCopeland:
Don't amend your tax return until you get your refund.
You can file your own amended tax return. It's IRS Form 1040X. It's pretty straightforward. I have a chapter in my 2012 Family Child Care Tax Workbook and Organizer that describes how to fill it out. If you do it on your own and have questions, call me at 651-280-5991 and save $100.
Thank you so much! According to irs.gov, my refund is expected to go into my account tomorrow.Don't amend your tax return until you get your refund.
You can file your own amended tax return. It's IRS Form 1040X. It's pretty straightforward. I have a chapter in my 2012 Family Child Care Tax Workbook and Organizer that describes how to fill it out. If you do it on your own and have questions, call me at 651-280-5991 and save $100.
I will call you next week for help if I need to. Hopefully I'm smart enough to do this on my own!
jokalima 11:59 AM 03-11-2013
Originally Posted by TomCopeland:
Don't amend your tax return until you get your refund.
You can file your own amended tax return. It's IRS Form 1040X. It's pretty straightforward. I have a chapter in my 2012 Family Child Care Tax Workbook and Organizer that describes how to fill it out. If you do it on your own and have questions, call me at 651-280-5991 and save $100.
Don't amend your tax return until you get your refund.
You can file your own amended tax return. It's IRS Form 1040X. It's pretty straightforward. I have a chapter in my 2012 Family Child Care Tax Workbook and Organizer that describes how to fill it out. If you do it on your own and have questions, call me at 651-280-5991 and save $100.
I have to amend my 2011 because the Tax Professional that did them did not want to include my house as part of DC, only the play room, and he did not wanted to depreciate the house. He did not did any other expenses for the DC either. I called the IRS explained it to them and they said I could amend. I am confused, if is the form 1040x , I use that for the business? My husband and I were filing new 1040 schedule c and a new 8829, we are doing it wrong then? Do we only fill out the 1040x and send it or we do the 1040x and send it with the new info on the other forms?
TomCopeland 01:23 PM 03-11-2013
Originally Posted by jokalima:
I have to amend my 2011 because the Tax Professional that did them did not want to include my house as part of DC, only the play room, and he did not wanted to depreciate the house. He did not did any other expenses for the DC either. I called the IRS explained it to them and they said I could amend. I am confused, if is the form 1040x , I use that for the business? My husband and I were filing new 1040 schedule c and a new 8829, we are doing it wrong then? Do we only fill out the 1040x and send it or we do the 1040x and send it with the new info on the other forms?
When you amend your tax return, file Form 1040X. This form shows a summary of the changes. Include copies of any revised forms that are affected by your amending. This will include your revised Form 1040, Schedule C and Form 8829. If you didn't file Form 8829 to begin with, just file it now with the other forms.I have to amend my 2011 because the Tax Professional that did them did not want to include my house as part of DC, only the play room, and he did not wanted to depreciate the house. He did not did any other expenses for the DC either. I called the IRS explained it to them and they said I could amend. I am confused, if is the form 1040x , I use that for the business? My husband and I were filing new 1040 schedule c and a new 8829, we are doing it wrong then? Do we only fill out the 1040x and send it or we do the 1040x and send it with the new info on the other forms?