Amending an amendment - statute question

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Discussion Forum Index --> Basic Tax Questions --> Amending an amendment - statute question
Discussion Forum Index --> Tax Questions --> Amending an amendment - statute question

94nole (talk|edits) said:

6 August 2008
Taxpayer filed her 2004 1040 in October 2006.

She subsequently received a 1099-R with a P code in 2005. 2004 1040 was amended in October 2007 to report the 1099-R income.

Taxpayer now produces police reports from 2004 and wants to claim a theft loss for 2004.

two questions... 1. Is it too late to amend 2004 to claim the theft loss? 2. If it is not too late to amend, is the police report and the values claimed therein alone enough substantiation for the theft loss?

Oh, another issue, the instructions say that any claims for insurance must have been filed if the property was insured...she had $1000 jewelry coverage on her homeowners policy but felt to make teh claim would jeopardize her coverage...so, she didn't file the claim. Loss according to the police report and her is $18,000. Potential insurance coverage was only $1000. Does her failure to file for the $1000 disallow her ability to claim the theft loss?

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