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Financial Planning / Tax Strategies


Subject:  Re: Amended return Date:  3/23/2003  1:00 AM
Author:  pmarti Number:  64628 of 127753

The change is that I file jointly with my wife, but I understated her SEP contribution for that year. (I put in too low a number.) So AGI (and lots of other stuff, I suppose) will change.

One odd thing is that DW is self-employed and I fill out a Schedule C for her, but the SEP amount comes off the 1040, and seems to have no impact on Schedule C, and self-employment tax.

An added complication that I didn't mention last time is that the numbers on the original return were changed by the IRS one time.

Use the IRS adjusted figures as the "previous" figures. Since you can explain the change in AGI as a change in the SEP contribution, I don't think you need any supporting forms.

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