IRS says I owe 39,509.04 Ok so long story short, I was left an inheritance from my grandmother back in 2008 that was in my uncles care. I didn't learn of it until 2011. He never filed taxes for it and now im being charged 39,000+ from the IRS for not including the information on my tax returns ( I only included my work wages being that I did not know of the income). They said I have to fill out a 1040x and include my loss and gains so they can recalculate what I owe. My inheritance was 72,000 and it was put into different stocks, I guess they are charging tax on the whole 72,000 instead of my gains and losses? The stocks were bought out in 2010. Well, I have the 1040x and I am so confused. I don't see any options to where it even states anything about stocks or such. I really need to complete this on my own as I don't have the funds to pay a tax specialist. Can someone please help me rectify this situation. Is there another form? Am I filling out the wrong one? I really appreciate any help. It will be a huge weight off of my shoulders! |