I filed my 2008 return and had a deduction because I planned on contributing $2500 to my IRA before 4/15. I cannot make this contribution now..I can make a smaller one. What will happen to my
2009 return? Thanks for any help
I filed my 2008 return and had a deduction because I planned on contributing $2500 to my IRA before 4/15. I cannot make this contribution now..I can make a smaller one. What will happen to my
No problem. Assuming your earlier filing was some time ago, you still have more than a week before the final due date to file an amended return (Form 1040X), with a corrected amount shown. Also, you should enclose (or authorize direct withdrawal) for any additional taxes due, including any excess refund.
Please note: If your return was filed recently, there might be a problem with two returns "in transit at the same time." If you have confirmed that any payment has been made and deposited by IRS (or if you have received any refund you were due), then you can immediately file. Otherwise, I would recommend you mail your amended return (1040X), including any payment, which will allow more time for the prior return to clear.
Bill
If there had been a refund involved on original return, then I would counsel waiting until refund received before amending. However if balances due are involved in both situations, amend asap and send along difference with with the 1040x.
ChEAr$, Harlan Lunsford, EA n LA
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