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OT: Do I need to file an amendment to my tax return?
Posted by: Sarcany
Date: April 15, 2018 09:16PM
I did my own taxes. E-Filed.

Just noticed that I made a mistake on form 8889.

I left the distributions field blank for distributions from a HSA account reported in a 1099-SA form.

The distributions were all for legit healthcare expenses and do not change the amount that I owe the government in any way.

Do I need to file an amendment to my federal return?


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Re: OT: Do I need to file an amendment to my tax return?
Posted by: sekker
Date: April 15, 2018 09:19PM
Up to you. I would likely just keep all of the paperwork in case you are audited.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: blooz
Date: April 15, 2018 09:54PM
Don't take my advice because i am not a lawyer, but I would just let it go. There are a lot of returns coming in and many of them will be of far more interest to the IRS than yours.


And we should consider every day lost on which we have not danced at least once.
—Friedrich Nietzsche
Western Massachusetts
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: max
Date: April 15, 2018 11:11PM
If it does not affect bottom line, I would leave it alone....
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Michael
Date: April 16, 2018 05:18AM
I agree with the above.

The IRS might send you a paper audit that basically says they found something and this is what you owe. If you disagree you can pursue it. Obviously if you owe nothing you wouldn't object. My impression from getting these over the years is that they are computer generated. If you object a human looks at it.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Robert M
Date: April 16, 2018 05:42AM
Sarcany,

This is one of the reasons I use an accountant for taxes. If there is a screw up like the one you mentioned, it's on the accountant to take the appropriate steps to correct it, assuming a correction is necessary and/or worthwhile. If you're concerned, spend the minimal bucks to have an accountant go over the entire return. Or, if you used a tax program, contact the publisher. I believe at least one of them - Turbotax if I remember correctly - has accountants on hand to help with this sort of thing.

Robert
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Sarcany
Date: April 16, 2018 06:23AM
Quote
Robert M
Sarcany,

This is one of the reasons I use an accountant for taxes. If there is a screw up like the one you mentioned, it's on the accountant to take the appropriate steps to correct it, assuming a correction is necessary and/or worthwhile. If you're concerned, spend the minimal bucks to have an accountant go over the entire return. Or, if you used a tax program, contact the publisher. I believe at least one of them - Turbotax if I remember correctly - has accountants on hand to help with this sort of thing.

I have a very simple return.

An accountant would charge several times more than my refund would fetch.

I did use TurboTax and contacted their support line. Walked through the process of generating an amended return, however, they would offer no advice as to whether I actually had to file an amended return.






Edited 1 time(s). Last edit at 04/16/2018 06:25AM by Sarcany.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: NewtonMP2100
Date: April 16, 2018 07:29AM
....what they said above.....if it doesn't affect the bottom line in a major way.....as they say in Frozen......let it go......let it go.....


____________________________________________________

I reject your reality and substitute my own!
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Robert M
Date: April 16, 2018 08:40AM
Sarcany,

That's something you might have mentioned in your initial post. I might have responded differently. Still, I've always felt it's worth using an accountant. More expensive than DYI but definitely worthwhile for those who don't really get dealing with a return and/or have a more complex taxes. Even a simple return can have mistakes that a good accountant will catch.

Robert
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Janit
Date: April 16, 2018 08:51AM
Quote
Sarcany
Quote
Robert M
Sarcany,

This is one of the reasons I use an accountant for taxes. If there is a screw up like the one you mentioned, it's on the accountant to take the appropriate steps to correct it, assuming a correction is necessary and/or worthwhile. If you're concerned, spend the minimal bucks to have an accountant go over the entire return. Or, if you used a tax program, contact the publisher. I believe at least one of them - Turbotax if I remember correctly - has accountants on hand to help with this sort of thing.

I have a very simple return.

An accountant would charge several times more than my refund would fetch.

I did use TurboTax and contacted their support line. Walked through the process of generating an amended return, however, they would offer no advice as to whether I actually had to file an amended return.

I would be most concerned as to how this error might affect your return for next year.

I am not familiar with how HSA accounts are followed, but if the balance is propagated forward to the next year, you may eventually generate a mismatch that an IRS computer audit might pick up.

On the other hand, if an HSA account is generated/used only within a given calendar year and isolated from the next year, then it probably won't be picked up.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: mattkime
Date: April 16, 2018 09:33AM
Yes, but will those simple mistakes cost more or less than the accountant?

Quote
Robert M
Even a simple return can have mistakes that a good accountant will catch.


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Re: OT: Do I need to file an amendment to my tax return?
Posted by: NewtonMP2100
Date: April 16, 2018 09:35AM
....some accountants charge over $200 for a return.....if one has a relatively easy return......makes no sense to hire someone that charges that much.....


____________________________________________________

I reject your reality and substitute my own!
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Robert M
Date: April 16, 2018 09:46AM
Matt,

Depends on the mistake. smiling smiley

There is also something to be said for letting someone else deal with the agita caused by the mistake and resolve it.

My time is valuable and in the case os something like this, I'd much rather have the accountant deal with it, assuming a mistake is made in the first place.

Robert
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: NewtonMP2100
Date: April 16, 2018 09:51AM
....yes, but in the end, if a mistake is made, the tax payer is ultimately responsible, not the preparer, so it behooves one to check the return when it goes out.....


____________________________________________________

I reject your reality and substitute my own!
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: mattkime
Date: April 16, 2018 10:15AM
Quote
Robert M
My time is valuable and in the case os something like this, I'd much rather have the accountant deal with it, assuming a mistake is made in the first place.

I find that the effort to do taxes is only marginally more than the effort to collect taxes. Usually its just the time to enter the data and review it.*

* Except this year. I had to get NYS and WI in alignment on how much I owe because NYS is rather aggressive. Decided to go with an accountant.


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Re: OT: Do I need to file an amendment to my tax return?
Posted by: rz
Date: April 16, 2018 10:18AM
No, they're too busy doing an audit on the president's taxes... apparently it's been going on for several years now.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Mike Sellers
Date: April 16, 2018 10:50AM
How do the distributions not affect your taxable income?
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: NewtonMP2100
Date: April 16, 2018 01:56PM
.....yes.....the 10 amendments.....and you will have to place them on stone tablets.....


____________________________________________________

I reject your reality and substitute my own!
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Janit
Date: April 16, 2018 03:00PM
Here is a response to your question on the Turbo Tax website:

[ttlc.intuit.com]

Quote

I forgot to include my 1099sa for HSA distributions. Since it was only about $300 and the distributions were for qualified medical expenses (showing distribution code 1 on 1099sa form) , do I need to amend my tax return.?

RECOMMENDED ANSWER

Technically, yes. The IRS does not presume that the 1099-SA distribution is used for medical expenses.

When you enter a 1099-SA, you specify that it was used for such. This completes Form 8889, line 14a and line 15. Until you complete the Form 8889, the IRS will see the amount as a taxable distribution.

Wait until you get your refund. This is not an urgent amendment, and amending before you get it can be problematic.

After you get the refund, amend your return to add the 1099-SA and complete the Form 8889. Turbo Tax will walk you through it.
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Re: OT: Do I need to file an amendment to my tax return?
Posted by: Sarcany
Date: April 16, 2018 05:21PM
Quote
Janit
Here is a response to your question on the Turbo Tax website:

[ttlc.intuit.com]

Quote

I forgot to include my 1099sa for HSA distributions. Since it was only about $300 and the distributions were for qualified medical expenses (showing distribution code 1 on 1099sa form) , do I need to amend my tax return.?

RECOMMENDED ANSWER

Technically, yes. The IRS does not presume that the 1099-SA distribution is used for medical expenses.

When you enter a 1099-SA, you specify that it was used for such. This completes Form 8889, line 14a and line 15. Until you complete the Form 8889, the IRS will see the amount as a taxable distribution.

Wait until you get your refund. This is not an urgent amendment, and amending before you get it can be problematic.

After you get the refund, amend your return to add the 1099-SA and complete the Form 8889. Turbo Tax will walk you through it.

Thank you! That is perfect!


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Re: OT: Do I need to file an amendment to my tax return?
Posted by: sekker
Date: April 16, 2018 08:35PM
Humbled to be allowed into a club with such honest folk as Sarcany!

(In my defense, I have twice had the IRS look at my taxes, and both times they gave me back money because I failed to take a deduction I could...)
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