Question concerning issue with last year [2015] tax return

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Latest post Wed, Jan 18 2017 8:46 AM by ca19lawyer2. 1 replies.
  • Tue, Jan 17 2017 4:40 PM

    Question concerning issue with last year [2015] tax return

    State of: Ohio

    Jumped on Turbo Tax to start my 2016 return only to discover their program didn't compute my 1099R income as AGI. My fault for not catching it, last year was the 1st time I didn't have my accountant do my taxes. Fortunately, I caught it before making the same mistake this year.

    Question, all things equal will this one [1] factor keep me from being approved for a mortgage when they request my last two year's tax returns before closing?

    IRS hasn't flagged it yet, I understand it typically takes a couple of years for them to play catch up. I haven't filed an amended return [yet] but I'm guessing I owe $4500. My return this year would cover that but 1st I'll see if I qualify for a payment plan option as I would like to knock out the rest of my cc debt before getting pre-qualified. My credit score is 730 currently and with the cc debt removed should be 770 ballpark.

    Does this sound like the best option moving forward? TIA

     

    "Just because you are one man and they are many doesn't mean they are right."

  • Wed, Jan 18 2017 8:46 AM In reply to

    Re: Question concerning issue with last year [2015] tax return

    Your post doesn't appear to raise any legal issues.  Consult with a realtor.

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