1041-X?


1041-X?

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Subject

Author

Date

1041-X?

Avrum Lapin

03-03-2008

Re: 1041-X?

John Levine

03-03-2008

Re: 1041-X?

Paul Thomas

03-03-2008

Posted by Avrum Lapin on March 3, 2008, 7:29 pm

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Having received a corrected 1099 for a trust I went looking
for a 1041-X form on the IRS Website but could not find one. Does it
exist? If not how does one report the change

California does not have a 541-X form on thir site

There is an $88 decrease in Total income, qualified
dividends increased by $250 and an increase of $18 in Capital Gain
Distribution (would be reflected in Capital loss carryover). These
changes would drive a change in the K-1. The net result would probably
be a refund increase of may be $15 to the recipient of the K-1..

Should I even do anything given that the amounts are
small or should I wait for the iRS to do something on their own. Next
year I won't be in such a hurry to file

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Posted by John Levine on March 3, 2008, 7:57 pm

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> Having received a corrected 1099 for a trust I went looking

>for a 1041-X form on the IRS Website but could not find one. Does it

>exist? If not how does one report the change

One reads page 16 of the instructions for Form 1041 wherein it is
revealed that you file another 1041 with the "Amended return" box in
section F checked, and include a letter explaining what changed.

Regards,
John Levine, johnl@iecc.com, Primary Perpetrator of "The Internet for Dummies",
Information Superhighwayman wanna-be, http://www.johnlevine.com, ex-Mayor
"More Wiener schnitzel, please", said Tom, revealingly.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Paul Thomas on March 3, 2008, 9:20 pm

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>> Having received a corrected 1099 for a trust I went looking

>>for a 1041-X form on the IRS Website but could not find one. Does it

>>exist? If not how does one report the change

> One reads page 16 of the instructions for Form 1041 wherein it is

> revealed that you file another 1041 with the "Amended return" box in

> section F checked, and include a letter explaining what changed.

And don't forget to send out corrected K-1's if those are a part of the
original return.

--
Paul A. Thomas, CPA
Athens, Georgia

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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