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NathanS1
New Member

I filed my 2017 taxes but forgot to add my 1099-B from an inheritance. Do i need to amend?

I filed my 2017 taxes but forgot to add my 1099-B from an inheritance i acquired in December of 2016 and sold in January of 2017. My return has already shows accepted(but not received) for federal and the state, so i went to amend my 2017 return and add my 1099-B. When i added my 1099-B to my return, my state and federal show $0, do i still need to amend the return if there were no changes or not? 

3 Replies
NathanS1
New Member

I filed my 2017 taxes but forgot to add my 1099-B from an inheritance. Do i need to amend?

So i went and did the amend process again, and it looks like i owe $89 for STATE and $0 in FEDERAL. What do i do now?
Anita01
New Member

I filed my 2017 taxes but forgot to add my 1099-B from an inheritance. Do i need to amend?

If you correctly said that you already received your original refund when you did the amendment, then wait until you receive the refund and mail in the amended forms with a check to the state.
Anita01
New Member

I filed my 2017 taxes but forgot to add my 1099-B from an inheritance. Do i need to amend?

It is normal for the Federal and State refund amount o go to zero when you choose that you're amending.  The 2017 amend form 1040X is not available yet so you could not have been going all the way though the amend process.


Yes, you should amend, but you wait until after you have received any refund from your original return, and then say you received that refund when you do the amendment.  Amended returns have to be mailed on paper and it takes the IRS 12-16 weeks to process them.  for now, you should remove any changes you made to your return and then enter them again when you amend.  Given that you would use Fair Market Value in December as your cost basis and the sale prices in January, with an uptick in the market you should show some gains.


How to amend:

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed#

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