turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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?

I received a corrected 1099-INT for 2025.  I have already submitted my 1040 via TurboTax with the tax due to be paid via ACH on 4/1/26.  I saved my return under a new name, removed the old 1099-INT and downloaded the corrected one from my brokerage.  It resulted in $30 less of taxes.  I have to pay quite a bit in taxes this year and this refund is inconsequential to me.  Is there a way modify my submitted filling if it has already been accepted but the taxes have not yet been withdrawn from my account?  I'm inclined to just let this slide unless it will cause some other unforeseen complication.  One other point to consider is I realized this year I did not calculate cost-basis for ISOs I executed in 2024 correctly, so I have filed a 1040-X for 2024 which will result in a large refund because I essentially paid double-tax.  I'm concerned if I file amended returns back to back it will flag me somehow.  This was the first time I have ever had to amend a return.

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
DavidD66
Expert Alumni

Should I amend?

No.  You don't have to amend your tax return to report a corrected 1099-INT that reduces your tax liability by $30.  It is quite possible the IRS will recalculate your tax owed and send you a refund without amending.  If it were me, I wouldn't file an amended return.  As for filing back-to-back amended returns, it would not flag you or cause you any problems with the IRS.  Filing an amended return is just trying to make things right.  The IRS doesn't hold that against taxpayers. 

**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
DavidD66
Expert Alumni

Should I amend?

No.  You don't have to amend your tax return to report a corrected 1099-INT that reduces your tax liability by $30.  It is quite possible the IRS will recalculate your tax owed and send you a refund without amending.  If it were me, I wouldn't file an amended return.  As for filing back-to-back amended returns, it would not flag you or cause you any problems with the IRS.  Filing an amended return is just trying to make things right.  The IRS doesn't hold that against taxpayers. 

**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?

Thanks,  I appreciate the 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