@kokenwa wrote:
I am looking to build a new construction home next summer and noticed that my tax return from 2014 has a typo and the taxes paid were $5500 instead of $2500. I did the 10-key wrong and pressed a 5 instead of a 2 and never bothered to to double check as I usually just fly through tax filings since I have little understanding of how it works. (Not the brightest thing to do, I know) Anyways, would a lender make deny me or make me file an amended return or simply use 1 year of returns when I file next year? All of the income is reported correctly, its just the taxes paid had a typo. My wife will be on the application as well and everything is fine on her end. Any help will be appreciated. Thanks.
I doubt this will be a problem for getting your mortgage approved. I will tell you that I used to do my own taxes and also didnt really know what I was doing, one year I knew I left money on the table so I went to a CPA who specializes in taxes and have not considered doing them myself since. He got me $1800 I would not have receive otherwise and it was well worth the $125 he charged me to reevaluate and file the amendment (our deal was if he couldnt find enough to justify the amendment he wouldnt charge me at all). Point is I pay him about $280 a year to do my federal and state income taxes, he meets with me and we discuss strategy for the next year to reduce tax burden and always earns his fee by finding things I would not. I know he will get this stuff right and he will be there if I ever did get an audit so it is well worth the bucks to use a pro in my opinion. As long as you can prove income I think you'll be fine for your mortgage. Best of luck on the house.
