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Mistake on Tax Return

Q. I already sent my 1040 off to the IRS, but I forgot about an extra $700 worth of charitable contributions. Can I claim that next year?

I've started to fill out the 1040X, but I guess if I could just wait to claim it next year that would be easier.

Thank you,
Jon

Jon:
You must file an amended personal income tax return to claim the missing charitable contributions.

Claiming the deduction in a future year would be thrown out upon audit.

Furthermore, by the time that the IRS makes this adjustment, it may be too late to correct your proper income tax return. Take the extra time to do it right.

Jim


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James Komos from Ciuni & Panichi
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