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We filed our taxes and used our federal refund toward some debt. My wife did a short sale on a home that she owned. At closing, for whatever reason, she got a check for a couple grand...she got a 1099-misc form in the mail, of course after we filed but before the 15th of April. We filed joint so I suppose that this could affect me if the appropriate taxes are not paid on this money. How do I begin to take care of this? I am no tax expert and file online. Any advice would be welcomed....Thank You
If the 1099 was for tax year 2012 you can file a 1040X to amend your 2012 tax return. If you were owned a refund on your tax return wait until that is processed, same as if you owed and paid. Once your return is processed you can complete the 1040X form and submit it with the documentation. It has to be submitted via snail mail.
You may also have to amend your state tax return as well.
Check the IRS website, I believe you have a certain amount of time to file the amendment. I had to file one, and I thought is said 3 years, but I could be wrong. Definately check the website - and it should be within the first pages of the instructions for the 1040X