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Corrected 1099B - Small Dollar Amount

Forum|Forum|5 years ago
April 26, 2021
1 reply
9 views

I mailed my tax return in early April. It was a paper return due to an unsupported form. I just received a corrected 1099B. Foreign Tax Paid (Box 7) decreased by $4 dollars. Is this change significant enough to have to file an amended return? I cannot find any discussion of materiality requirements.

Not A Product Question

Best answer by DavidD66

I would not file an amended return for that. The IRS will get the corrected information as well. If they want to, they can propose a change to your return once it is processed, and notify you by mail of that change.

Level 15

I would not file an amended return for that. The IRS will get the corrected information as well. If they want to, they can propose a change to your return once it is processed, and notify you by mail of that change.

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