I plan on completing a form1040X to reclaim some of the 10% early IRA withdrawal penalty I paid in 2007 since I paid my own medical premiums during that year, I was unemployed and I received unemployment benefits. Do I need to send supporting documents with the 1040X such as copies of the cancelled checks I sent to the insurance company? Also, on the blank lines on the 1040X where an explanation is required, should I state just what I stated here? Thanks.
Sara
No. Just attach a form 5329 to the 1040X and if the IRS wants more information they will ask for it.
No. Wait and see if the IRS asks for anything within the required time limit.
You should explain each line on the front of the 1040X, by reference to the line number, where something changed. Attach copies of all schedules and forms that have changed on the original return.
-Mark Bole
attach a Schedule A to the 1040X, showing your total out-of-pocket medical, 7.5% of your AGI, and the difference (along with Form 5329). Doesn't matter if you itemize or not.
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