Received a 1099-MISC in the mail AFTER I e-filed
This is my first post here. I tried searching for this, but did not see anything that matched my particular question...
To make a long story short, I had gathered all my tax documents (or so I had thought), and prepared my 2008 return via TaxCut software. Once I was done, I e-filed both my federal and state (MO) returns, and was getting refunds on both.
An hour after I was finished, I check the mail - and there was a 1099-MISC that I had forgotten to expect...
This 1099-MISC was for some extra income (a one-time side-job), in which no tax was taken out prior to payment. If I had reported this in my return, my taxable income would have been a bit higher, and I would have not received refunds as large as I had initially calculated. It's not much, but going back through the TaxCut program and adding this 1099-MISC lowered my overall refund total by about $480.
I have already received my refunds from the Fed and State - but I obviously now owe them some money back. I've set the estimated amount aside, so I don't end up spending it... ;-)
From what I gather, I need to file an amended return via a 1040X form - however, TaxCut informs me that this form is not finalized by the IRS yet.
Can I wait until I file for the 2009 tax year to report this 1099-MISC, and just have the amount I owe taken out of my expected refund then?
Thanks for any assistance!