[helpmepleasehelp]

I bought the house after may 1, 2010, but had the contract before April 30, 2010. I believe I qualify for the first time home buyer credit.

anyway, I already filed my 2009 tax return. Does this mean I have to file out form 1040x and 5405?

I tried to find information on how to fill out 1040x, but all I found is information for the "rev. december 2009 version". Can someone provide step by step information on how to fill out the "rev. January 2010"?

thank you all in advance.

[mack20007]

You can find the instructions for the 2010 version of the F 1040X on the IRS website, www.irs.gov, you just type in,
Form 1040X instructions, and click on the link labeled, "Instruction 1040-X (Rev. January 2010)"

The instructions are fairly good, however you should be aware of the following.

1. Make sure you're eligible, if you're not sure check F 5405 instructions or call the IRS, it'll be just rejected otherwise.

2. If that's all you're claiming, skip lines 1-9 of the 1040X form, you just need to complete the
heading, lines 10-thru line 21, and on the back do not complete the exemption section, but merely sign and
date, spouse must sign if MFJ.

3. Remember to include your Hud settlement statement (or similar document if Hud statement was not used), showing names of buyer and seller, address of the property, sales price, date of purchase, and signatures, as well as F5405.

4. The instructions don't give help for line 10, to find line 10 for the form 1040X, get it from line 60 if a 1040 was originally filed, line 37 if a 1040A was filed, line 11 for F 1040EZ.
The other lines are very well explained in the instructions, which are a separate document from the form.
-On line 17 put the refund received from the original return.

5. Remember the IRS is quoting 12-16 weeks on getting your refund to you.

6. You know you did it correctly when line 21 comes out to be the refund you're looking for, don't put it there, let the form
compute it for you there.

[helpmepleasehelp]

Thank you so much. It helps a lot.

[kisses12]

I am trying o fill out a 2010 1040x tax form. I had income from interest, dividend, and broker and bartering income from my Edward Jones. I am having difficulty reporting the interest, dividend, and broker and bartering income on the 1040x form. Where does this go on the form.

[AtlantaTaxExpert]

More than likely, you need to submit a revised Schedule B for the interest and dividend income, a revised Form 1040 for the barter income, and a Schedule D if you sold stocks.

I strongly recommend you get professional tax help, as it appears to be a complex amendment.

[mack20007]

To answer your question, interest, dividend,and barter income are reported as adjusted gross income, on the form 1040X. Its placed on line 1 of that form.

The form 1040X is unusual in that regard in that it truncates all your income into one line. (So this makes you use a separate sheet or a blank form for 2010 tocalculate your income, and put it on line 1 of your amended return.) You may have adustments you need to consider.

Atlanta is correct, you may need to complete other schedules as well if you meet those filing requirements; e.g. if you had over $1,500 of taxable interest or ordinary dividends is one reason you'd need to completed Schedule B Bartering income and capital gains also have schedule or worksheet requirements.

Be aware, even though you're amending the 2010 tax year , you "always use the current revision" of the form 1040X, which is now; December 2012. The form allows you to state the year you're amending.

If you're having diffilculty completing any Schedules, the instructions are very helpful; you can also ask the IRS directly; and of course you can consult an tax practitioner.

Hope this helps.