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jsm
Returning Member

Corrected 1099-B from 2018 in July 2021

I just (July 2021) received a corrected 1099-B for 2018. There is one transaction with a prior LT gain of $4.70 (rounded to $5.00) that is now $6.12 (rounded to $6.00). Surely I don't have to file an amended return for 2018 for a LTCG increase of $1.00, do I? That amount shouldn't affect any additional tax due as it would be less than $1.00. Anyone see any issue just ignoring this?

4 Replies
Bsch4477
Level 15

Corrected 1099-B from 2018 in July 2021

I think you are safe to ignore it. 

Mike9241
Level 15

Corrected 1099-B from 2018 in July 2021

I think the last thing the IRS would want is an amended return for $1 which likely wouldn't change your actual tax liability return. even if it did I would not file an amended return.

jsm
Returning Member

Corrected 1099-B from 2018 in July 2021

Yeah, I re-installed TT 2018 on my current computer and made the update.  As expected, Gross Income went up by a dollar but Total Tax didn't change.  I'm ignoring it unless I hear from the IRS. As you stated, they have bigger fish to fry. Thanks all!

sunshine6780
New Member

Corrected 1099-B from 2018 in July 2021

The IRS employees are the fish that need fried!  Just saying!  Too bad you wasted your time.  I wish they'd put in some of their time for all of the tax dollars we are paying.

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