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    ceejay77's Avatar
    ceejay77 Posts: 2, Reputation: 1
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    #1

    Mar 9, 2008, 04:57 PM
    Amending a Tax Return
    I am truly a novice at this (filing tax returns) so it was a big shock when I rec'd in the mail a 1099 Misc after I had already filed my federal return. Now I have to file an amended tax return and I am having trouble doing so. My 1099 Misc amount was $2,500. I cannot believe that now I owe almost $800 because of this. I am a Senior, age 65, and sure don't have that kind of money. It was for a gambling debt my grandson ran up on the internet but it was in my name. The place won't give me an amended return - they threatened a felony against my grandson! Help, please.:confused:
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Apr 25, 2008, 02:00 PM
    It should NOT be a Form 1099-MISC, but rather a Form 1099-C or 1099-A.

    The income would be reported on Line #21 of Form 1040 as "Other Income".

    You CAN legally disavow the income and Internet debt, but only at the risk of putting that debt under your grandson's name, which is where it belongs.

    As to whether the Internet gaming company can actually put a felony against your grandson is highly questionable, since Internet gambling is ILLEGAL in most states.

    You need to seek legal advice.
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