I received a corrected 1099B, but the change didn't alter tax liability. Do I need to file 1040X?
You'll need to sign in or create an account to connect with an expert.
In this case you would not need to amend if there is no change in your tax liability.
Under the IRS matching program, they send notices to taxpayers if they believe a correction is necessary. This does not mean the IRS is always correct. So if you do get a notice, make sure you respond accordingly. The IRS does not like being ignored; and I can't blame them.
Additionally, make sure there is no impact at the state level.
In this case you would not need to amend if there is no change in your tax liability.
Under the IRS matching program, they send notices to taxpayers if they believe a correction is necessary. This does not mean the IRS is always correct. So if you do get a notice, make sure you respond accordingly. The IRS does not like being ignored; and I can't blame them.
Additionally, make sure there is no impact at the state level.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
stephdw14
New Member
stephdw14
New Member
khibbert95
New Member
nicholson533
New Member
reknpet
New Member