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Amending my return

Hi, I have to amend my return i missed inputting a 1099-div and which was not a lot and now it says i owe money?  Please assist, thank you!!

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3 Replies
JotikaT2
Employee Tax Expert

Amending my return

Do you have a specific question?  Or are you trying to figure out why you owe money now after entering your 1099-DIV income?

 

Since this is an online forum, it's hard to see exactly why there is a difference in the tax due.  

 

But if your dividend income was enough to generate taxes, then that could be part of the reason you now owe.  Your amended return is prepared with your original return as the starting point.  If you received a refund for any payments over the amount of the tax due, your amended return would not show this change as your already received credit for it on your original return.

 

If anything, you may have some tax due just from that additional dividend income and this is resulting in a balance due.

 

 

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Amending my return

So question the dividend was 48.00 and it says I now owe $550, does that sound normal??

Amending my return

Print your revised tax return and examine for the forms and schedules that are new or changed due to your amendment.

(You need to do that anyway, according to the Instructions for Form 1040-X).

That will tell you why your tax has gone up so much.

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