Amend 2016 Taxes or wait for NY State/City...

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Amend 2016 Taxes or wait for NY State/City...

Post by Johnsson » Mon Apr 16, 2018 5:59 pm

1st time problem for both me and my daughter...

My daughter did her taxes for the 1st year last year (2016 tax year). She had ~22K of AGI and ~15K net proceeds from a capital gains sale.

The capital gains sale was not included in her tax filing. (I had told her she shouldn't owe much/anything, so she assumed she didn't need to include it :oops: ) The federal gov't has reached out for their portion. Fortunately it should be minimal... more of a paperwork ordeal.

However... It was also not included in NYS or NYC tax forms. :(

Question... I assume the federal government will make the state of NY aware of the problem. Will it be simpler if she (we) amends her filings or wait for them to reach out?

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