Do I Need to File an Amended Return

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I received a corrected 1099B for tax year 2025 from my brokerage house with a long-term capital loss that was $10 less than originally specified. Because I had an overall net capital gain (line 7a on 1040) I calculate that I owe about $1.50 more in taxes than I originally paid. Do I need to file an amended return for these taxes?

M-MTaxAnswer

Level 15

The IRS receives a copy of that same corrected Form 1099-B. When their automated matching systems process the updated form, one of two things will happen:

They will ignore it: The automated system may automatically bypass or round out differences that result in negligible amounts.
They will send an automated notice: If their system does flag the $10 difference, the IRS will automatically adjust your account and send you a notice (such as a CP2000) for the balance. If this happens, you can simply pay the $1.50 (plus a few pennies of interest) directly through the notice instructions without ever having to go through the headache of filing an official amendment.

M-MTax

Level 15

No, you generally do not need to file an amended return for a tax difference that small. The IRS typically does not pursue taxpayers or expect a Form 1040-X to be filed over a $1.50 tax discrepancy, as the administrative costs to process the change far outweigh the amount owed.

M-MTaxAnswer

Level 15

The IRS receives a copy of that same corrected Form 1099-B. When their automated matching systems process the updated form, one of two things will happen:

They will ignore it: The automated system may automatically bypass or round out differences that result in negligible amounts.
They will send an automated notice: If their system does flag the $10 difference, the IRS will automatically adjust your account and send you a notice (such as a CP2000) for the balance. If this happens, you can simply pay the $1.50 (plus a few pennies of interest) directly through the notice instructions without ever having to go through the headache of filing an official amendment.

JonAKAuthor

Level 2

Thank you. Other than the actual tax owed plus interest, you do not believe the IRS would assess a penalty of some sort? I was concerned that a penalty might exceed any tax owed.