I received notice from Turbotax to check my 1099-Int reporting for 2024 for possible errors. There is a $17 difference (under reported). Do I really need to amend?

[stevekewley]

$95 was reported. It appears the total amount from the 1099s i uploaded with turbotax comes to $112.83.

[pk]

@stevekewley 

(a) If the under-reporting is because of a missed 1099-INT, then the AUR system may flag this as "under-reporting" of income and it is then possible that the human intervention result in a CP2000 letter to you.

(b) general guideline is if the changed/updated income does not result in changed  tax due , then there is no need for an amended return.

My sense is that a $17  increase in taxable income is unlikely to increase your tax liability  by more than a few dollars and therefore IRS may not proceed with demand to pay.  However, I would prepare an actual amended return and see if the result is significant  ( say greater  than US$10) underpayment.  And then decide if it requires filing or not.  Also include in your computation of liability , the  interest charges for underpayment.

I hope this helps