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rockedge
New Member

Do i need to file amended return if have another 1099b but when the numbers are entered into turbotax, the income is only 3 dollars more and there no additional tax due?

 
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1 Best answer

Accepted Solutions
HelenaC
New Member

Do i need to file amended return if have another 1099b but when the numbers are entered into turbotax, the income is only 3 dollars more and there no additional tax due?

Yes, you need to amend your income tax return. 

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

  • You need to report a tax form you forgot about or received post-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 2016 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 (e.g., you want to change from Single to Head of Household).
  • We instructed you to amend because of a program error (uncommon).

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1 Reply
HelenaC
New Member

Do i need to file amended return if have another 1099b but when the numbers are entered into turbotax, the income is only 3 dollars more and there no additional tax due?

Yes, you need to amend your income tax return. 

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

  • You need to report a tax form you forgot about or received post-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 2016 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 (e.g., you want to change from Single to Head of Household).
  • We instructed you to amend because of a program error (uncommon).
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