"Matt" <mattsings[at]att.net> wrote:

- quote -

Send the amended return with payment by 4/15/2005. That way
you won't owe any interest.

--
Phil Marti
Clarksburg, MD

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mattsings[at]att.net wrote:

- quote -

I should clear some things up...I already filed and PAYED
the gov't over $3500 and it looks to me that I owe them
another $600-ish now that I have these two new 1099s.

So should I go ahead and send it in or wait?

MATT

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Phil Marti wrote:
- quote -

.....And if you HAD kept "books and/or records" on your
income, you would (or should) have already included it on
your tax return - so if the amounts matched, there would be
nothing to amend. Remember that not every payment you
receive needs a 1099-MISC, but you are still supposed to
report every payment you get (that constitutes income).

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- quote -

That second question is asking what you have already paid,
not what you are going to pay. Leave it blank.

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Did you pay any extra with your return? If no, the answer
is -0-. Any overpayment is - what was your refund amount?
It sounds like you have a refund coming from the original
return. It sounds like you will owe $600 with your form
1040X (amended return). The deadline for companies to have
the information in your hand OR in the mail is January 31st.
You should at least wait until Feb. 15th to file.

Missy Doyle

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<mattsings[at]att.net> wrote:

- quote -

This never ceases to amaze me. How in the world do you know
the 1099's are accurate if you don't keep books on this
activity? Fix that, and you won't have this problem again.

- quote -

Then everything else is zero. You paid the balance shown on
the original return, you haven't sent any more money, and
you haven't gotten a refund. This section is computing what
you will owe with the 1040-X.

<snip
- quote -

I've heard there are pickled aliens in Roswell. An amended
return, especially one claiming an increase in tax, isn't
going to trigger an audit.

--
Phil Marti
Clarksburg, MD

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I used Turbo Tax to file taxes this year for my wife and me.
We did them in Late January assuming we had recieved all of
our tax documents and could think of no others we had
missed. I didn't even start until January 30th assuming
everyone had sent out their papers because they are due by
January 31st.

Well, I ended up forgetting about 2 1099-misc(s) and they
came after we filed.

So I assume I have to file and Amended return but I'm very
confused as to how to do it - at least using Turbo Tax I'm
very confused.

Here is where I get lost...I did what TurboTax told me to do
which was first, correct my return, meaning...include the
two 1099-Misc(s) in my schedule C. I did that. Then I end
up at a page that says this:

Enter the following payment amounts, if applicable, from
your original 2004 return.

Amount Paid With Form 4868, Form 2688, or Form 2350,
Applications for Extension of Time to File (Form 1040, Line
68) _____

Amount of Tax Paid With Original Return PLUS Additional Tax
Paid AFTER the Return Was Filed (NOT Including Interest or
Penalty Payments) ____

Overpayment, If any, As Shown on Your Original Return OR As
Previously Adjusted by the IRS (Form 1040, Line 71) _____

So I can answer the first one but the second one is where I
stumble. I haven't paid more money yet until I know how
much to send...am I right? TurboTax has calculated the
difference already which is around $600...so what do I put
in for the second one?

Can someone help me?

Also, I'll be giving the gov't money, but I've heard filing
an Amended return can lead to auditing...is this true?

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