Got 1099-DIV ammendment and difference is 0.03 cents - Do i need to file ammendment

[Fresher_TTU]

Hello,

I filed income tax return last week. I got refund from CA State. For Federal return, e-file status is accepted and waiting for refund.

Now, Fidelity  sent me today amendment to 1099-DIV form. On the original return  it stated that I paid 0.39 as Foreign tax. In the amendment it states that i paid 0.36 as Foreign tax.  The difference is 0.03 cents.

1) Do I need to file amendment for 0.03 cents?

2) Also, I see that Turbo tax do rounding all my taxes? Will that get absorbed in rounding? How can i determine if i have to do amendment?

3) Will have to wait for Federal tax refund to complete and then do amendment ?

Thanks and Regards

R

[robtm]

1) No, you do not need to do an amendment for .03.

2) For rounding on .01-.49 it rounds down to the lower dollar, for .50-.99 it gets rounded up to the next dollar. Since .03 would not make any difference in your taxes you do not need to amend them. 

3) If you needed to amend you should wait until your taxes have been accepted and you have received your refund.

[ThomasM125]

You don't have to amend your return since your tax won't change. Turbo tax does round up numbers, so in your case the two numbers are the same when rounded up. You would have to wait until your refund is received before you did an amended return, but you don't need to amend in this case anyways.