What should I do if I forgot to report some of my income? How? 6 Answers as of May 07, 2015

I recently sent in my income tax return and I realized I forgot to include income that was coming in from a home I rent out. What do I do?

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Law Offices of Charles R. Perry
Law Offices of Charles R. Perry | Charles R. Perry
You should file an amended return on form 1040X. A tax preparer should be able to help you with any questions you have as to how to fill out the form.
Answer Applies to: California
Replied: 5/7/2015
Ronald K. Nims LLC | Ronald K. Nims
File a Form 1040X showing changes. You'll also have to file a Schedule E or Schedule C with the details of the rental income, expenses and depreciation.
Answer Applies to: Ohio
Replied: 5/7/2015
Eranthe Law Firm
Eranthe Law Firm | Cate Eranthe
You should file an amended return to show the income which you forgot to list. There are instructions and forms on the IRS website.
Answer Applies to: California
Replied: 5/7/2015
Law Offices of Robert Beatson II | Robert Beatson II
The facts need to be carefully reviewed and analyzed. An amended income tax return needs to be prepared. An experienced tax attorney/accountant should be able to handle this.
Answer Applies to: Maryland
Replied: 5/7/2015
Irsfeld, Irsfeld & Younger LLP | Norman H. Green
File an amendment on Forms 1040X and 540X.
Answer Applies to: California
Replied: 5/7/2015
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