Tax accountants weigh in

[Anonymous]

Anonymous wrote:I'd submit. You can bring this up with the new accountant you will have to hire for next year. If the difference is really meaningful, that person could amend this return.

You file. You don’t “submit.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:What is the tweak it's missing? Given the cuts at the IRS, I'd say just file what you have and claim ignorance. Blame it on your CPA.

My DH is self employed and she forgot to put his automobile expenses in which lowers the amount of tax we owe.

The return is like a book.

Look at last year's return and use the same numbers. Assuming same level of activity, the expense would have only gone up so you should be safe using last year's numbers. If the impact on taxes is relatively small when you add this in, i'd just skip it.

[Anonymous]

Thanks everyone OP here. I added in the auto expenses and refigured all of the worksheets.
But the downside now is that my DH can no longer contribute to his Roth IRA. I will have to recharacterize that. Can he put that amount to a traditional IRA?

[Anonymous]

Something doesn’t make sense here. If you added in the auto expenses, the income would have decreased which would not have impacted his ability to contribute to a Roth.

[Anonymous]

Anonymous wrote:Something doesn’t make sense here. If you added in the auto expenses, the income would have decreased which would not have impacted his ability to contribute to a Roth.

+1

[Anonymous]

I would pay $80 for the turbotax and use your accountants files as an input and and go from there.