Corrected 1099-B from 2018 in July 2021

4 replies
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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?

Bsch4477

Level 15

I think you are safe to ignore it.

Mike9241

Level 15

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.

Mike9241

jsmAuthor

Level 2

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

Level 2

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.