After filing, I received an additional 1099-B that only reduces my cap gains loss to carry-over to next year... Do I need to amend?

[jphelp32]

Got a new 1099-B after I filed my return (for 2021). The net of the new 1099-B is a small short term capital gain.  But that gain is LESS than the net capital loss above $3000 (married filing jointly) that I already have with other 1099-B's for 2021.

so, hypothetical numbers:

I filed my 2021 return claiming $3000 capital loss deduction, because I had a net capital loss of $5000 for the year. Then after filing, I got the new 1099-B with $1000 capital gain. So the effect is a reduction of my $5000 net capital loss down to $4000. However, I think(?), it has no impact this year b/c of the $3000 deduction limit, and only impacts capital loss carry-over that I can deduct NEXT year. ($1000 instead of $2000.)

So do I need to amend? Does the IRS need the new 1099-B, or whatever form with list of transactions, to be filed? even though there's no impact to taxes owed/refunded?

I assume that next year when turbo tax tries to apply the capital loss carry over deduction, I would just reduce that deduction to the appropriate amount?

thanks

[PattiF · Accepted solution]

No, there is no need to amend the 2021 tax return since the additional 1099-B does not make an impact on your refund or the amount owed for 2021. You can adjust the Capital Loss Carry-Over on your 2022 tax return.