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Posted by don on June 3, 2006, 10:03 am
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> don wrote:
>> While preparing our tax year 2005 returns, I realized that I
>> had made an error with our Tax year 2004 tax submissions .
>> The error, not properly recognizing a rental property as
>> actively managed (versus passive) seemingly will result in
>> an ~$500 refund from the feds.
>>
>> I used Tax Cut to prepare out returns. It was fairly
>> straight forward to prepare a federal 1040-X. Unfortunately
>> the Tax Cut CT state program does not seem to support an
>> amended return. Further the CT refund would be quite small,
>> an amount I would gladly ignore do to the "hassle factor'!
>>
>> My question: Is there any problem if I amend our Federal
>> return, but not the CT?
> I'm surprised TaxCut doesn't support the CT 1040X. I'm sure
> TurboTax does.
>
> You may technically be required to report any federal tax
> change to Connecticut. However, no one will penalize you
> for allowing the state to keep your money <G>. If it isn't
> worth your time and effort to amend the return, don't
> bother.
Thanks for confirming my "gut opinion"! I doubt the CT
refund would be that meaningful, as the fed is only $500 --
thus I will just skip the CT change.
Again -- Thanks!!!
PS -- I lived in CA for 23 years, before moving "back" to
CT; San Diego is definitely the place to live !!
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