Revised 1099div

[robtm]

Do I need to amend?

SOLVED•by TurboTax•11258•Updated January 13, 2023

Amending your return means filing a new form, 1040X. This is only required in certain situations.

In other situations, you can change your original return and you should not file a new form.

Don't amend if:

• You haven’t e-filed or mailed your return yet. Just open your return, make any changes, and file when you're ready. If you already printed your return, follow these steps to make changes
• Your tax return hasn't been processed yet or your e-filed return is still pending. Wait until the return is accepted before amending
• Your e-filed return is rejected. Just make your changes and then resubmit or mail your return
• You received a government notice that doesn't specifically tell you to amend (for example, math error corrections or request for additional forms). Just follow the instructions in the notification
• You entered the wrong bank account to get your refund
• You received Forms 1095-B or 1095-C and the info matches what you reported on your return
• You want to make changes to the amount you claimed for Advanced Child Tax Credits. The IRS will internally adjust your refund
• You want to make changes to the amount you claimed for the Recovery Rebate Credit. The IRS will internally adjust your refund if you claimed the Recovery Rebate Credit but didn’t qualify or overestimated the amount you should have received. If a correction is needed, the IRS will calculate the correct amount of the 2020 or 2021 Recovery Rebate Credit, make the correction to the tax return, and continue processing it. There’s no need at this point to amend your return, unless you didn’t claim the Rebate Recovery Credit at all, and were entitled to claim it

Amend if you already mailed your return (or the government accepted your e-file) and:

• You need to report a tax form you forgot about or received after filing (most commonly a W-2, 1099, or 1095-A)
• You received a corrected tax form after filing (the corrected box is checked) and the new info changes your refund or tax due amount
• You forgot to report income or claim dependents, deductions, or credits
• You accidentally claimed dependents, deductions, or credits you're not eligible for
• You made an error that affects your bottom line, such as reporting income or deductions in 2022 that should've been claimed in a prior tax year (in that case, you'll need to amend all affected tax years)
• You need to change your filing status (for example, you want to change from Single to Head of Household)

HOW TO AMEND

Sign in to TurboTax

1. On the home screen, scroll down to Your tax returns & documents and select the year you want to amend
2. Select Amend (change) return, then Amend using TurboTax Online
   • If you're told to amend your return via TurboTax Desktop, follow the steps for TurboTax CD/Download below instead
3. On the screen OK, let's get a kickstart on your amended return, select the reason(s) you're amending and Continue
4. When you reach Here's the info for your amended federal return, select Start next to the info you need to change
5. Continue through the screens, make the changes you need to make, and carefully answer the remaining questions to finish amending your return

[DaveF1006]

To clarify, what is your question?

@Bronx1 

[Bronx1]

I filed my taxes. I received a 1200 refund. The other day, I get a revised 1099 div revision. I ran the numbers, the revised 1099 would INCREASE my refund by $11. Is there a penalty if I dont amend and just not care about an extra $11? I am concerned because my revised 1099div wont matched the one I already filed. Thank you

[AliciaP1 · Accepted solution]

No, there is no penalty if an amendment would increase your refund and you don't file it.  You may receive an arbitrary $11 from the IRS one day, but you will not be penalized.

@Bronx1