How to amend now 1099-B?

[mafahiim]

Just filed my taxes, Now the 1099-B arrived after I filed
Currently my federal tax was already accepted, and waiting for a refund. My state tax is still pending.
The form showing short capital gain of only $30, which should result in decreasing the refund of fed amount by $3.6 and decreasing state refund by $1.66 only!
- For such small amount, do I still required to file an amend?
- Should I file it now? Or wait till i got my refund? Same question for state?
- Any other forms should be filed than 1040X ( Form 8949 for example? Sched D..etc?)
- Where on 1040X should that $30 reported? Which line specifically? Thanks!

[Rachel_W · Accepted solution]

Since you have already filed and the IRS and State have Accepted your Tax Returns, you will need to wait until the IRS and State fully process your returns and you receive your refunds. 

Next, I would recommend Amending your return even though it is for such a small amount to avoid any future tax notices. There is no fee to Amend your Tax Returns in TurboTax.

Once you have received your refund, you will need to Amend your Tax Return by filing Form 1040-X to include your Form 1099-B.  You can click here for instructions on Amending your Tax Return: How to Change a Tax Return You Already Filed.

You will need to include Form 8949 and Schedule D with your Form 1040X.  The gain will be reported on Line 1 of your Form 1040X....TurboTax will do this automatically once you input your form.

[mafahiim]

Thank you very much for your reply. So turbo tax won't ask for "upgrade product" to include this form? I filed with Zero version, but I will be hesitated to pay like $60 to file $3 taxes

[Rachel_W]

Unfortunately, since you are in the Free Edition you would need to upgrade to PLUS.  Alternatively, you could order Form 1040X, Schedule D, and Form 8949 from the IRS directly and complete them on your own. Here is the link if you are interested in doing that: <a rel="nofollow" target="_blank" href="https://www.irs.gov/forms-pubs/forms-and-publications-by-us-mail">https://www.irs.gov/forms-pubs/for...>.

[mafahiim]

Thanks again! Do I have to include same forms (8949 and Sche D) for my NJ state amend as well?

[Rachel_W]

Yes, most states do require that you include a copy of the Form 1040-X and all attachments.

[mafahiim]

Rachel, I can't thank you enough!!

[Rachel_W]

@mafahiim I'm very glad I was of help to you!

[jbar]

Your link doesn't work.  

Also when I try to use the Amend return option in TT2018 it doesn't list the option to add a 1099B. 

Is there another option?

Thanks

[DoninGA]

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@jbar wrote:

Your link doesn't work.  

Also when I try to use the Amend return option in TT2018 it doesn't list the option to add a 1099B. 

Is there another option?

Thanks

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See this TurboTax support FAQ for amending a 2018 tax return originally completed and filed using TurboTax - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-a-return-in-turbotax/01/27579

To enter an investment sale from a brokerage account (1099-B), follow the steps below.

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Under Investment Income
• On Stocks, Mutual Funds, Bonds, Other, click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales