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Level 1
posted Feb 17, 2022 7:30:38 AM

Received 1099-DIV after I filed

I received a 1099-DIV after I filed, how can I tell if this will affect my refund and I have to amend my taxes?

0 5 2160
5 Replies
Level 15
Feb 17, 2022 7:59:50 AM

How many $$ in which boxes, and we'll take a guess.  

But in the end, you might have to start an "amended" tax return later (say in March or April) to see if it is critical or not.

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even Box 11 $$ may have an effect in "some" situations.

______________________________

a)  If you've e-filed already but it is "rejected, then you do not amend, you just add in that 1099-DIV , fix the actual reason for the Rejection, and re-e-file.

 

b)  If your original has already ben "Accepted" then you need to wait for it to be processed, and original refund paid to you (or you have actually paid more to them for the original ) ....all before you start an "amendment"

 

Expert Alumni
Feb 17, 2022 8:01:58 AM

 If you don't report the form on your report you might receive a notice from the IRS. Each box on your 1099-DIV reports something different and affects whether you must report it on your tax return.

What Is IRS Form 1099-DIV: Dividends and Distributions?

 

If the IRS rejects your return, you can make the changes and re-submit your return. However, if the IRS accepts your return, you have to wait until it has been fully processed and you have received your refund. Then you can prepare an amended tax return to report the form on your return.

  1. In TurboTax, scroll down to Your tax returns & documents. Select Show and then select Amend (change) return, and then Amend using TurboTax Online. (If you don't see Your tax returns & documents, select Tax Home on the left.)
  2. Select the reason you’re amending and follow the instructions

Level 1
Feb 17, 2022 8:39:06 AM

1a - 273.66

1b - 192.81

 

Expert Alumni
Feb 17, 2022 8:53:19 AM

If you had taxable income and tax liability on your original return (Total Tax on Form 1040, Line 24) you must amend your tax return. This income will increase your tax liability.

 

When the form is ready (March 31st) you can prepare the amendment.  Be sure to resubmit no later than April 18th to avoid any underpayment penalty. I suggest getting it submitted through e-file no later than April 15th to receive your acknowledgement. Read all the instructions carefully before you begin.

@jud650

 

 

Level 15
Feb 17, 2022 10:07:22 AM

Agreed, but don't try to file it the last 5 days before the 15th/18th...the submission computers tend to get all backed up just before the deadline and strange things sometimes happen.  Before Apr 10th would be safer.