taxbrewster Posted June 1, 2009 Report Posted June 1, 2009 Here is the situation. Married couple, young dentists, first year working. Filled 08 tax return AGI 193k got a refund of $6369, just w2, nothing else. Just purchased a house. Can I go back and amend the returns for create the following scenario? MFS Husband - AGI 125k - refund $580 MFS Wife - AGI 68k - refund $4701 (overall mfs would cost them $1088) But then file 5405 for the wife for $4k credit, therefore increasing the overall refund to $8701. Therefore they would receive $2912 more because she gets the home buyers credit in comparison to the original return. They both qualify as first time home buyers however, does the husbands income disqualify the wife on filling for the credit? I don't think I can do this but have not found any examples or language to say you can't... Quote
kcjenkins Posted June 1, 2009 Report Posted June 1, 2009 You can amend to go from MFS to MFJ but not the reverse. An amended return filed after the due date of the original return cannot change a binding election made in the original return. R.H. Macy & Co. v. United States, 255 F.2d 884 (2d Cir.), cert. denied, 358 U.S. 880 (1958); Aeolian Co. v. United States, 257 F.2d 24 (8th Cir. 1958); Rosenfield v. United States, 156 F. Supp. 780 (E.D. Pa. 1957), aff'd, 254 F.2d 940 (3d Cir.), cert. denied, 358 U.S. 833 (1958); Raymond v. United States, 269 F.2d 181 (6th Cir. 1959). Quote
taxbrewster Posted June 2, 2009 Author Report Posted June 2, 2009 oh, yeah, totally spaced that one. thanks. Quote
jainen Posted June 2, 2009 Report Posted June 2, 2009 >>first year working. Filled 08 tax return AGI 193k << You mean dentists pull 200K the first year out of school? Golly. Quote
mcb39 Posted June 2, 2009 Report Posted June 2, 2009 >>first year working. Filled 08 tax return AGI 193k << You mean dentists pull 200K the first year out of school? Golly. Since I work part-time for a Dental Group, I don't doubt it! Quote
taxbrewster Posted June 2, 2009 Author Report Posted June 2, 2009 yeah, not bad, eh? they are in one of those dental "chains" were all they do is see clients everyday, non stop....5 days a week Quote
taxbrewster Posted June 2, 2009 Author Report Posted June 2, 2009 Well, how about this... I could look at the numbers next year and see if MFS would work. Because they just found out they are having a kid and she might not work the full year so maybe the numbers will work next year. Quote
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