CT Amended Return

#1 06-03-2006, 02:03 PM

Katie" <katiej_1958[at]yahoo.com> wrote:
- quote -

> don wrote:

> > While preparing our tax year 2005 returns, I realized that I
> > had made an error with our Tax year 2004 tax submissions .
> > The error, not properly recognizing a rental property as
> > actively managed (versus passive) seemingly will result in
> > an ~$500 refund from the feds.
> > > I used Tax Cut to prepare out returns. It was fairly
> > straight forward to prepare a federal 1040-X. Unfortunately
> > the Tax Cut CT state program does not seem to support an
> > amended return. Further the CT refund would be quite small,
> > an amount I would gladly ignore do to the "hassle factor'!
> > > My question: Is there any problem if I amend our Federal
> > return, but not the CT?

> I'm surprised TaxCut doesn't support the CT 1040X. I'm sure
> TurboTax does.
> You may technically be required to report any federal tax
> change to Connecticut. However, no one will penalize you
> for allowing the state to keep your money <G> . If it isn't
> worth your time and effort to amend the return, don't
> bother.

Thanks for confirming my "gut opinion"! I doubt the CT
refund would be that meaningful, as the fed is only $500 --
thus I will just skip the CT change.

Again -- Thanks!!!

PS -- I lived in CA for 23 years, before moving "back" to
CT; San Diego is definitely the place to live !!

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

06-02-2006, 04:20 AM

don wrote:

- quote -

> While preparing our tax year 2005 returns, I realized that I
> had made an error with our Tax year 2004 tax submissions .
> The error, not properly recognizing a rental property as
> actively managed (versus passive) seemingly will result in
> an ~$500 refund from the feds.
> I used Tax Cut to prepare out returns. It was fairly
> straight forward to prepare a federal 1040-X. Unfortunately
> the Tax Cut CT state program does not seem to support an
> amended return. Further the CT refund would be quite small,
> an amount I would gladly ignore do to the "hassle factor'!
> My question: Is there any problem if I amend our Federal
> return, but not the CT?

I'm surprised TaxCut doesn't support the CT 1040X. I'm sure
TurboTax does.

You may technically be required to report any federal tax
change to Connecticut. However, no one will penalize you
for allowing the state to keep your money <G> . If it isn't
worth your time and effort to amend the return, don't
bother.

Katie in San Diego

<< ================================================== ===== > << 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 06-01-2006, 04:32 AM

While preparing our tax year 2005 returns, I realized that I
had made an error with our Tax year 2004 tax submissions .
The error, not properly recognizing a rental property as
actively managed (versus passive) seemingly will result in
an ~$500 refund from the feds.

I used Tax Cut to prepare out returns. It was fairly
straight forward to prepare a federal 1040-X. Unfortunately
the Tax Cut CT state program does not seem to support an
amended return. Further the CT refund would be quite small,
an amount I would gladly ignore do to the "hassle factor'!

My question: Is there any problem if I amend our Federal
return, but not the CT?

-don

<< ================================================== ===== > << 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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