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Tax Question-Mortgage Interest Correction After the Fact
So state and federal tax returns have been filed, checks have been sent, amounts are neither here nor there.
Today in the mail I get a corrected 1098 in the mail from my mortgage holder with a little note to the effect of "Oops" my January '09 payment was posted on 12/31/08 so the interest portion of my Jan payment was not included in my '08 1098. The difference is about $1350. A few questions. Is the net effect on my return enough to bother with it? How do I address this? Can I somehow just get it credited towards next year's return? I don't want to give them any more money than I have to. I'll give my accountant a call tomorrow but figured I'd get some ideas first.
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
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Did they send you a corrected 2008 1098 or a separate 1098 for the portion of 2008 interest not previously shown. Either way it should reduce your 'owe' - I would include or do an amended return if you have already sent.
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BENZ THERE DONE THAThttp://www.peachparts.com/shopforum/...c/progress.gif 15 VW Passat TDI 00 E420 98 E300 DT 97 E420 Donor Car - NEED PARTS? PM ME! 97 S500 97 E300D 86 Holden Jackaroo Turbo D 86 300SDL (o\|/o) |
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That's it!
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High income fellow such as yourself...........probably see about $475. in your pocket.........
If the 1098 shows the additional amount in 2008, you'll need to file an amended return for it. Quote:
.........which forces you to do an amended return, by definition. Quote:
There's the little rub...........hopefully, he does it for $100. for you...........it'll take him all of five minutes. |
#5
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Thanks, guys. It would appear to be worth they effort.
Quote:
I guess that's why I'm not an accountant. And why it's a good thing my brother is treasurer!
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
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