I filed my taxes in mid-April. I just found a 1099 for the sale of $10k of stock. Should I file 1040X now, or should I wait until they've processed my return?
When should I file an amended return?
May 01, 2009
4 Replies
When you do get the notice, many many months will have gone by. If you had a gain on sale you will owe tax plus interest and penalty.
And you will have to supply Schedule D information at that time anyway.
Get it out of the way now and file an amended return and a new schedule D.
"NadCixelsyd" wrote
If you e-filed it, it's already been processed by now. If you paper filed it, it's in the pipeline and it'll be ahead of the amended return, so amend away.
Yeah, but... I'm going to owe an additional $1800. Can I wait until my refund of $3200 (which should have been $1400) arrives before I amend.
Sure you can wait. But the interest you will owe builds up daily.
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