MN dhawk Posted April 13, 2016 Report Share Posted April 13, 2016 On clients return I was given an incorrect address for a rental piece of land somewhere in Kansas. The lender sees it and wants my signature in his file. Why would he care? The rent was around $500 and the refinance has nothing to do with this property. Is this suspicious? Quote Link to comment Share on other sites More sharing options...
JohnH Posted April 13, 2016 Report Share Posted April 13, 2016 You don't have any obligation to the lender. You certainly shouldn't sign anything for the lender, nor should you waste your time telling the lender how to do their job. Give the client a 1040X with the Schedule E address correction attached, and an explanation on the 1040X that there is not change to the return other than the address correction on the Schedule E. There is a place on the 1040X just for that sort of explanation. It could be as simple as "This filing reflects no change to tax liabilities. However, upon review we discovered that an incorrect address was shown on the original Schedule E. The attached Schedule E reflects the correct address." The client can furnish the 1040X and corrected Schedule E to the lender if he so chooses. Whether or not the client files the 1040X is irrelevant. Whether or not the lender accepts this is also irrelevant insofar as you are concerned. 5 Quote Link to comment Share on other sites More sharing options...
MN dhawk Posted April 13, 2016 Author Report Share Posted April 13, 2016 Thanks John. My feelings exactly. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.