Solved: I received a 1099-INT after filing with interest income of $18.54. Is it necessary that I amend?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I received a 1099-INT after filing with interest income of $18.54. Is it necessary that I amend?

 
1 Best answer

Accepted Solutions
Level 15

I received a 1099-INT after filing with interest income of $18.54. Is it necessary that I amend?

Perhaps, if it changes your tax.

Personally I would not go to the trouble.  I would just let the IRS figure it out in a year or so and send me a bill plus interest and just pay that.   The tax can't be more than a few dollars and the interest only a few cents on that.  You can mail the payment in for the price of a stamp, but the postage to mail the entire amended return would probably cost more than the tax and interest (if you mail certified which you should for an amended return.).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

1 Reply
Level 15

I received a 1099-INT after filing with interest income of $18.54. Is it necessary that I amend?

Perhaps, if it changes your tax.

Personally I would not go to the trouble.  I would just let the IRS figure it out in a year or so and send me a bill plus interest and just pay that.   The tax can't be more than a few dollars and the interest only a few cents on that.  You can mail the payment in for the price of a stamp, but the postage to mail the entire amended return would probably cost more than the tax and interest (if you mail certified which you should for an amended return.).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

Dynamic Ads
v
Privacy Settings