IRS Audit, Should I be Worried?

[Raquel Baranow]

I made "mistake"? on prior 1040 by listing my business expenses on Schedule C. (Makes sense, business deductions on Schedule C.)

Now I'm told I should do it on Schedule A so I filed amended return with deductions -- mostly property tax I pay on vacant land I own and hold as investment.

IRS sends me Notice of Deficiency, doesn't accept ANY of my receipts and asks why I'm receiving interest on form 1099 from a title company. (Duh, I have 15-installment sales, buyers are paying me principle & interest.)

Should I be worried when I appeal to tax court?

[Steven Hamilton II]

This scenario just reminds me why no one should represent themselves and should not prepare their own tax return.

In fact, I wouldn't even represent myself before the IRS.

-Steven