Unimportant Mistake on 1040

#4 05-26-2006, 04:42 AM

Arthur Kamlet wrote:
- quote -

> Larry Israel <VSLARRY[at]weizmann.weizmann.ac.il> wrote:

> > I forgot to fill out the Social Security line on my 1040.
> > However, the taxable portion is 0. Should I bother to file a
> > 1040X?

> No.
> Box 20a need not be filled in if box 20b is blank.
> In fact, if you qualify for filing Form 1040EZ, you can do
> that even if you have social security income, so long as
> none of the social security in taxable.

However it's still a good idea to insert the figure
routinely. I do.

Say for example, on a joint return only other income is a
Schedule C business and gross receipts are more than enough
to require filing a return. And let's say business winds up
that year with a 14,000$ loss. (It's possible!). By putting
all the social security on the return, (and it's possible
that husband and wife could happen more than 30,000$ total
in a year), that would tell IRS how they managed to live and
might even forestall an audit.

These thoughts based on an actual audit of course.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << 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. > << ================================================== ===== >

#3 05-25-2006, 12:53 AM

Larry Israel wrote:

- quote -

> I forgot to fill out the Social Security line on my 1040.
> However, the taxable portion is 0. Should I bother to file a
> 1040X?

If the taxable portion is -0-, the IRS does not want any
figure on line 20a.

Missy Doyle

<< ================================================== ===== > << 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. > << ================================================== ===== >

#2 05-25-2006, 12:53 AM

Larry Israel wrote:

- quote -

> I forgot to fill out the Social Security line on my 1040.
> However, the taxable portion is 0. Should I bother to file a
> 1040X?

Nope. In processing problem returns, IRS can accurately
research your SSN 99% of the time; else they will inquire.
If no inquiry, no problemo yet. If you're curious if they
processed it under the correct SSN, you can call the 800
number, and it takes 'em a minute to look it up. If
incorrect, they can fix it w/o your 1040X.

Fred F.

<< ================================================== ===== > << 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. > << ================================================== ===== >

#1 05-25-2006, 12:53 AM

VSLARRY[at]weizmann.weizmann.ac.il (Larry=A0Israel) posted:

- quote -

> I forgot to fill out the Social Security line on my
> 1040. However, the taxable portion is 0.
> Should I bother to file a 1040X?

No. The instructions are very clear on this, and
specifically tell you that you do not have to make an entry
on either line 20a or 20b, if none of your benefits are
taxable. (See the Worksheet on page 28 of the 2005 1040
Instructions.)

Bill

<< ================================================== ===== > << 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. > << ================================================== ===== >

05-25-2006, 12:53 AM

Larry Israel <VSLARRY[at]weizmann.weizmann.ac.il> wrote:

- quote -

> I forgot to fill out the Social Security line on my 1040.
> However, the taxable portion is 0. Should I bother to file a
> 1040X?

No.

Box 20a need not be filled in if box 20b is blank.

In fact, if you qualify for filing Form 1040EZ, you can do
that even if you have social security income, so long as
none of the social security in taxable.

--

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

<< ================================================== ===== > << 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. > << ================================================== ===== >

#-1 05-24-2006, 04:37 PM

I forgot to fill out the Social Security line on my 1040.
However, the taxable portion is 0. Should I bother to file a
1040X?

<< ================================================== ===== > << 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. > << ================================================== ===== >

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