2125023
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Should I amend my tax returns after receiving an amended/corrected 1099-B?

Hello, I recently received an amended/corrected 1099-B from my brokerage, should I amend my tax returns considering that the overall cost basis reduced by less than $1, to be exact $0.19? All transactions were recorded, the only thing that was corrected was the cost basis for an equity I purchased. Will there be consequences if I do not amend my tax returns, considering the total amount? 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
MinhT1
Expert Alumni

Should I amend my tax returns after receiving an amended/corrected 1099-B?

As the corrected amount is minimal and is likely not to change your reported cost basis when rounded to the nearest dollar, I would advise that it is not necessary to file an amended return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

2 Replies
MinhT1
Expert Alumni

Should I amend my tax returns after receiving an amended/corrected 1099-B?

As the corrected amount is minimal and is likely not to change your reported cost basis when rounded to the nearest dollar, I would advise that it is not necessary to file an amended return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Should I amend my tax returns after receiving an amended/corrected 1099-B?

Thank you @MinhT1 for response!

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question