Join Early Retirement Today
View Poll Results: How often have you included one or more supporting statements with your tax return?
Never 25 69.44%
Occasionally 8 22.22%
Frequently 2 5.56%
Always 1 2.78%
Voters: 36. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Supporting Statements with Income Tax Return
Old 02-13-2009, 02:40 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,201
Supporting Statements with Income Tax Return

I'm talking about a statement that you include with your taxes to explain some entry. Something like this:
Concerning line 3 of form 8863 (Education Credits), this amount was billed in 2008 but paid in 2009. That's why you received no 1098T for this amount.
__________________

__________________
Al
TromboneAl is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-13-2009, 03:49 PM   #2
Full time employment: Posting here.
Lakedog's Avatar
 
Join Date: May 2007
Posts: 654
I've never included a supporting statement -- always thought the best course was to save any explanation for an audit (but have never been audited/questioned).
__________________

__________________
Lakedog is offline   Reply With Quote
Old 02-13-2009, 04:25 PM   #3
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Since I started e-filing... never. Then again, I generally don't have complicated returns or need to submit uncommon forms.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 02-13-2009, 04:57 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Jul 2005
Location: Los Angeles area
Posts: 1,432
I usually have had to. I owned quite a few REITs from 1998-2006, and my brokerages usually reported the complex dividends wrong, even on the final 1099s (they have become better in recent years). I payed my taxes based on correct dividend allocations and included spreadsheets showing my calculations and references to each companies data.
__________________
learn, work, save, invest, fire
CyclingInvestor is offline   Reply With Quote
Old 02-13-2009, 05:14 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,533
Quote:
Originally Posted by CyclingInvestor View Post
I usually have had to. I owned quite a few REITs from 1998-2006, and my brokerages usually reported the complex dividends wrong, even on the final 1099s (they have become better in recent years). I payed my taxes based on correct dividend allocations and included spreadsheets showing my calculations and references to each companies data.
Filing taxes that disagree with 1099's is a surefire way to get flagged and audited. But if you have your data to back you up, it should be a matter of photocopying the supporting statements and resending the exact same thing to the IRS with a short cover letter saying "did you not get the first set of explanatory statements?"
__________________
FUEGO is online now   Reply With Quote
Old 02-14-2009, 01:16 AM   #6
Recycles dryer sheets
Linney's Avatar
 
Join Date: Nov 2006
Posts: 262
I included a supporting statement once. The official tax record only listed my ex husband's SS number even though it was a joint responsibility. So I included a statement that the SS# number and name did not match because I had gotten divorce and changed back to my maiden name, that I was entitled to the deduction based on our marital settilement agreement and so ordered by the court, that I had the official court records to back up this assertion (NOT attached but in my possession), and that my ex would not be taking the deduction on his tax forms.

No audit occurred.

This was done via a paper filing, not electronic.
__________________

__________________
Linney is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Supporting Statements in TaxAct/Efile?? TromboneAl FIRE and Money 13 02-13-2009 05:33 PM
None of you file a tax return?!? BUM FIRE and Money 21 05-12-2008 11:12 PM
Signing Tax Return with POA 2B FIRE and Money 1 03-16-2008 07:42 PM
Can you NOT take deductions on your tax return? summer2007 FIRE and Money 2 10-19-2007 11:50 PM
Fixed income return question FinallyRetired FIRE and Money 1 09-10-2007 10:33 AM

 

 
All times are GMT -6. The time now is 09:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.