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I got a corrected 1099-div showing $78 of qualified dividends that was not on the original. Do I need to amend? Am I missing out on anything if I do not? Thanks!

ordinary dividends were 137, if that helps.
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2 Replies
MinhT1
Expert Alumni

I got a corrected 1099-div showing $78 of qualified dividends that was not on the original. Do I need to amend? Am I missing out on anything if I do not? Thanks!

Qualified dividends are taxed at the rate applicable for long term capital gains which is lower than the rate applicable for ordinary dividends.

 

For example, if you are in the 22% tax bracket, the rate for qualified dividends is 15%. If you amend your return, you'll save 7% on $78, which is $5.

 

This is a small amount which may not be worth the time and effort necessary to file an amended return.

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I got a corrected 1099-div showing $78 of qualified dividends that was not on the original. Do I need to amend? Am I missing out on anything if I do not? Thanks!

Thank you so much!   That was my thought based on the research I did,  but I really craved confirmation!   I truly appreciate your help! 

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