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One of the 1099s I submitted online showed $625 too much earnings and I'm being sent a corrected form. How do I amend this?


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One of the 1099s I submitted online showed $625 too much earnings and I'm being sent a corrected form. How do I amend this?
Because it's a change of income, you'll need to file an amended return unless the IRS corrects it for you.
Wait until the original processes. If the IRS does not suggest the correction, file a 1040X Amended return.
It should not result in additional tax, but there are credits that are based on your income, so your tax liability might adjust. If you will owe, be sure to have that paid by April 15th.
https://ttlc.intuit.com/replies/3288565
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One of the 1099s I submitted online showed $625 too much earnings and I'm being sent a corrected form. How do I amend this?
Because it's a change of income, you'll need to file an amended return unless the IRS corrects it for you.
Wait until the original processes. If the IRS does not suggest the correction, file a 1040X Amended return.
It should not result in additional tax, but there are credits that are based on your income, so your tax liability might adjust. If you will owe, be sure to have that paid by April 15th.
https://ttlc.intuit.com/replies/3288565
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One of the 1099s I submitted online showed $625 too much earnings and I'm being sent a corrected form. How do I amend this?
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One of the 1099s I submitted online showed $625 too much earnings and I'm being sent a corrected form. How do I amend this?
The amended return (1040X) will show you the difference, so if it shows tax due, this will be in addition to what you paid with the original return.
It is best to wait until the original has processed, the IRS may even correct for the 1099, in which case they will notify you by mail and ask if you agree with the re-adjusted tax.
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