Nick D <jnemail1[at]nycap.rr.com> wrote in news:120ncc7nci3hh26

- quote -

Anyone?

I need to file my 1040X soon, and am concerned that if I
incorrectly filed my taxes in the last several years, not
filing a 4952 because TaxCut didn't print it out (because I
was not itemizing)... I'm worried next year it will be a
big problem when all of a sudden I do file one showing a
bunch of investment expenses carried over, that I had never
told them about previously.

Thanks a bunch

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I am confursed on form 4952. I have used tax software for
as long as I can remember, and it seems to me that since I
am not using Schedule A, that I have not been able to show /
deduct my investment expenses (interest). (And that at least
makes sense to me)

But my tax software continues to fill out a form 4952, and
even subtract off any dividends and carryover the new amount
to next year's forms.

That is peculiar to me... That on my 1040, I very clearly
have liabilities on that income (linesa 8A and 9A), but the
carryover to next year is subtracted by that amount. So I'm
taxed on it, and it is subtracted from my investment
expesnses going forward. Seems strange to me? Why is that?

Ok second and I think final question this tax season...

Since I'm not filing Schedule A, it seems that I don't have
to file form 4952... But I continue to carry forward
amounts for future tax forms. This year I will likely use
schedule A, so I think the IRS will get a 4952 from me for
the first time. Am I mistaken somewhere? Out of nowhere
they get a form claiming a carryover from a previous year,
but last year they didn't get a form 4952 from me. Did I
(actually TaxCut) make a mistake somewhere?

Nick

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >