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Old January 24th, 2008, 07:09 PM
gb52877 gb52877 is offline
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Join Date: Apr 2004
Location: Dallas
Posts: 317
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We were audited this past Oct for 2005 investment interest expense that I had carried over from 2000. We showed the IRS person our interest documentation. She asked us if we had an income we did not report and a few other questions. Like someone would say yes I had income I did not report. It was over in a matter of 5 minutes we chatted about the weather for another 10 minutes and it was over. Totally painless and yes what a waste of our time and government's money but that is how our government likes to waste money. I am a CPA so we represented ourselves. It seems like I could have faxed in the documentation or sent photocopies and supported this deduction just as easily.
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