Form 1040X question

Forum|Forum|3 years ago
March 31, 2023
1 reply
7 views

I need to amend previous tax returns as I did not include a Form 8938. There will be no other changes, this reporting makes no difference to my taxable income. Could I print out the original tax returns submitted

write 1040X on the top of form and mail in with the missing Form 8938?

fanfare

Level 15

I've read IRS will accept that , but there's no reason to do it that way.

The correct way:

get Form 1040-X from IRS website and mail it in with your 8938, which you can also get in fillable PDF.
Note: since you are not changing any dollar amounts on your amended tax return, you can leave all the lines 1-23 EMPTY.

Part III explanation: "didn't include Form 8938 with e-File".
You will have to mail it so this does not use up your one 1040-X e-File.

mdd108Author

Level 4

thanks @fanfare how many years back would you advise me to submit these 1040x - for missing forms 8938.

fanfare

Level 15

IRS says:

Reasonable Cause Exception
No penalty will be imposed if you fail
to file Form 8938 or to disclose one or
more specified foreign financial assets
on Form 8938 and the failure is due to
reasonable cause and not to willful
neglect. You must affirmatively show
the facts that support a reasonable
cause claim.
The determination of whether a
failure to disclose a specified foreign
financial asset on Form 8938 was due
to reasonable cause and not due to
willful neglect will be determined on a
case-by-case basis, taking into
account all pertinent facts and
circumstances