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cjhece
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I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

 
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I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

The 1099INT is income for 2018 and you will need to Amend the 2018 return to report this income.

You have to wait until the original return is processed and you get your refund.

Then approx February 22nd, TurboTax will have the Amended process for 2018 returns ready.

You will then log back into your TurboTax account and Amend the 2018 return, adding whatever was left off the original return. 


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4 Replies

I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

How much was the 1099INT for that was not reported?

I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

Did you already file?
cjhece
New Member

I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

Yes, I did and it was below $500. Do I have to amend my tax return?

I noticed that a gain from my online saving account is missing for the 2018 tax report. If I report it next year, do I expect to pay a penalty charge? Please let me know.

The 1099INT is income for 2018 and you will need to Amend the 2018 return to report this income.

You have to wait until the original return is processed and you get your refund.

Then approx February 22nd, TurboTax will have the Amended process for 2018 returns ready.

You will then log back into your TurboTax account and Amend the 2018 return, adding whatever was left off the original return. 


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