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» From: Aston, PA Dear TaxMama, I forgot to include more than $8000 worth of mortgage interest which would give me almost $700 more of a refund. I DO NOT understand how to use the 1040x form and could sure use a little help and advice. Please help me!!!! Rich Dear Rich, The form is confusing if you don't know the trick to it. The trick? Prepare a new tax return with all the correct information before you start the Form 1040X. Then, pull out the old return and fill in all the numbers in column A 'Original Amount' . Then, take the new return and fill in all the numbers on column C 'Correct Amount'. THEN, and only then, do you calculate column B. It will be the difference between A and C. Make sure that you remember to use line 17, if you paid any money with your return when you filed it --- OR line 19, if you had a refund. Be sure to print out the instructions and keep them by your side, so you don't get too confused. If you prefer that we prepare your 1040X for you, we charge a minimum of $150 for that service. So, really, Rich, you're better off taking it slowly and thinking it through yourself. Best wishes Eva Rosenberg Your TaxMama  |
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