The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Should I file this?||Date: 8/6/2009 10:08 PM|
|Author: JoshRandall||Number: 106681 of 125415|
Aside from the fact that we're grownups here and try to keep a civil tongue, alas, it is you, sir or madam, who speaks without knowledge.
While you certainly can attach anything you like that's not explosive to your tax return, it serves no purpose to attach items that aren't required. Further, one would be silly to attach original documentation for a deduction or credit since it may be the last time you ever see it, and then where would you be if you were audited?
The issue in my mind was whether a person who paid foreign taxes which were not reported as having been paid on forms sent to the IRS for inclusion in the tax return should just ignore taking a legitimate credit just because there was an error in reporting.
So I said to attach a copy (not mentioned in my OP but implied)of the broker's statement which clearly indicates the amount withheld for foreign taxes and go ahead and take the credit. The IRS, would accept that as proof even though it did not receive the correct information from the provider.
This is not rocket science and I repeat that it is stupid to leave your common sense at home when filling out a tax return and that whomever said that one should NEVER attach such supporting documentation on their tax return doesn't know what the hell they are talking about including you if that is what you believe. I stand by my statement because I know it to be true from experience. nuff said.
Don't rec this post. I'm not a rec whore.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|