How to amend Fed & State 2007 return to add real estate taxes?
I neglected to include about $2000 in real estate taxes on 2007 return. We have someone prepare our taxes but will they charge a hefty fee to amend the 2007 return. How difficult is it for someone with no tax preparation experience to do a Fed and State amendment. Thanks.
Public Comments
- Somewhat difficult. If amending your taxes will not reduce your tax liability, just deduct the amount on your 2008 tax return.
- It is not the most difficult process, but you have to prepare the amendments properly and attach all the proper paperwork before the IRS will accept the return. I am going to attach a link to the IRS to the form 1040X with the instructions. Also the Sch. A, Itemized Deductions. You will also have to use the tax laws and tax tables for 2007. I suggest you contact the person that prepared your original tax return to check on the price of an amendment. Also you can call around to other tax services to see if they are able to help you with the process. Hope this helps. Laura H – H&R Block – Senior Tax Advisor 5 **This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided.
- For federal, file IRS Form 1040X. For state, consult your specific state.
