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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10103
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I completed my tax return but to include the sale of an

Customer Question

i completed my tax return but for got to include the sale of an empty lot that I had for years. Can I file an amended return to include this additional income ?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi,

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Yes, that's exactly the right answer.

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In my experience filing an amended return BEFORE you get a request for information us always the best path.

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They'll likely waive any penalties if you ask

Expert:  Lane replied 1 year ago.

As a matter of fact if you simply get the 1040X (Amended return) filed quickly they may not apply any late payment penalty at all.

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I'd simply get it done and see if you hear anything

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Lane

Expert:  Lane replied 1 year ago.

Let me know if you have questions...

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If this HAS helped, and you DON’T have any additional questions, your positive rating … (by clicking or touching the stars or smileys on your screen) … would be appreciated!That’s the only way I’ll be credited for the work here.

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