January 16, 2023, 08:10 AM
tsmccullQuestion for the tax gurus
Is it possible to include an explanation when you efile? I manage an income producing property (farm) for my family and only a small portion is mine, but all the receipts/paperwork have my name on them so it looks like I own the whole thing. Got audited many years ago and successfully explained everything to the IRS. Don’t know if anyone reads it, but have included a one page explanation defining who owns what portion of the property with my paper tax return and have never been audited again about it. Is there any way to efile and include a copy of that same note, or is that not an option?
January 16, 2023, 08:35 AM
229DAKI suspect that if you file a paper return, you certainly could attach an explanation.
January 16, 2023, 08:40 AM
joel9507quote:
Is it possible to include an explanation when you efile?
My tax guy does this all the time when he e-files our stuff.
What he does is add "Statements" which wind up on a separate pages in a separate section "Federal Statements", with each page having a heading that notes what line of which form that particular statement applies to. As an example:
Statement 1
Schedule XYZ, Line ABC<<pertinent data/info>>
next page:
Statement 2
Schedule EFG, Line JKL<<pertinent data/info>>
If your software supports 'statements' you might explore doing something similar.
January 16, 2023, 08:43 AM
tsmccullThanks, that helps. I’ll see if turbotax supports statements when I start working on the return.