in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill
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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?
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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.
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.
Thank you @MinhT1 for response!
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