Dear All,
In prior years, I have been doing taxes using just the 1040 booklet and calculate all the numbers on my own. This year, I bought a software and to much of my surprised, I actually should have itemize my deductions vs. taking the standard deductions. This saved me about $500 in taxes.
I realized that I had overpaid 2004 taxes because I used standard deductions, rather than itemize my deductions. Can I amend my 2004 tax returns and use itemize deductions so I can get some refund back for both Federal and State(CA)?
If so, which forms should i use?
Thanks
Kaya
Yes you have three years from when you file to amend your taxes. You would file a 1040X. You can probably find it on the website http://www.irs.gov or go to a local H&R Block and have them do a FREE double check challenge. They only charge you if they get you more money back or save you more money on your taxes. If you do it on your own, then the 1040X is what you would file.
I do taxes for a living.
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