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watch131719
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Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV?

I reviewed my 2023 tax returns, and I found that I did not report that a part of my dividend on a 1099-DIV is from US Government interest.  As I result, I overpaid my Oregon State Tax.

I like to file an amendment to my 2023 Oregon Tax Return to recover my overpayment.

Here are my questions.

TurboTax records the US Government interest portion of my DIV during the Federal Taxes amendment interview.  This information is then used to amend my state return.

  • Is US Government interest portion of dividends even reported to the IRS?
  • In other words, do I need to file a Federal Income Tax amendment, since the new information has no bearing on my Federal income tax obligation?
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1 Reply

Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV?

@watch131719 

 

No, you shouldn't have to amend the Federal file for that.  That entry, even though done in the Federal section, that only affects how much the state taxes. 

 

So for every $100 from the 1099-DIV, that you identify as being from US GOvt interest......if your state has a nominal 5% tax rate,  you'd get $5 back.  (for Oregon, the rate appears to be graduated 4.75% to 9.9%)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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