I e-filed my taxes last week, I totally forgot I sold stock last year and forgot to report 58.00 .What do I do ?
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a return that has been e-filed and already accepted, cannot be changed. If you missed reporting an income item, your options are (a) after your field return has been processed and refund issued , you file an amended return--1040-X --paperfile and reconcile your income and taxes thereon OR you can wait till IRS discovers the issue and send you a bill ( and probably charge interest. Personally I would suggest filing an amended return after you are sure that your return has been processed -- usually about 4 weeks from iniital acceptance ( to process )
a return that has been e-filed and already accepted, cannot be changed. If you missed reporting an income item, your options are (a) after your field return has been processed and refund issued , you file an amended return--1040-X --paperfile and reconcile your income and taxes thereon OR you can wait till IRS discovers the issue and send you a bill ( and probably charge interest. Personally I would suggest filing an amended return after you are sure that your return has been processed -- usually about 4 weeks from iniital acceptance ( to process )
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