Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: JeanDavid Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124804  
Subject: line 21 of your 1040 Date: 7/12/2011 9:11 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I use TaxAct to fill out my tax returns.
I have some annuity income that would normally come with a 1099R, but is from outside the US, so I do not get such a form or anything like it. I suspect I could get away without declaring it at all, but that violates my principles, and could get me into big trouble besides. So I put that income on line 21 of the 1040 and pay tax on it.

I did try to bring up a blank 1099R form and filling it out, but it insists on a taxpayer id number and the foreign insurance company has no US taxpayer id, so I could not go that way.

But Tax Act complains and warns me that my refund (and I seldom get one) will be delayed because the amount on line 21 is over $400. I did not get a refund for the 2010 tax year, but I did for the 2009 tax year. As far as I can tell, it was not delayed.

What is this about? I would think the feds would be delighted to get that money reported. Is this a misunderstanding on the part of TaxAct? Or what?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.