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Returning Member
posted Aug 2, 2021 8:00:08 AM

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?

0 4 613
4 Replies
Level 15
Aug 2, 2021 8:04:54 AM

I think you are safe to ignore it. 

Level 15
Aug 2, 2021 12:39:55 PM

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.

Returning Member
Aug 10, 2021 5:58:45 AM

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!

New Member
Aug 10, 2021 7:00:22 AM

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.