AnnetteB6
Expert Alumni

After you file

Filing an amended return is just making a change to the return that you already filed.  Sometimes this is done to fix something that was wrong and sometimes this is done to add more income that wasn't reported when you filed your return.  In your case, amending your return would be adding more income that wasn't reported when you filed your return.  

 

Going through the amended return process (outlined in the article linked in the previous answer), TurboTax takes into account any refund that you already received and lets you know if you owe any money back to the IRS or if the IRS owes you more of a refund due to the change that the amended return is making.  Adding only $11 to your income probably will not change your refund or cause you to pay additional money.  If it does change things, it should be a very small change.

 

You have up to three years to amend your return, but if you do not amend it to add the dividend income, then you may receive a letter from the IRS telling you that you did not report all of your income.  Usually if this happens, the IRS will have recalculated your tax return for you and will tell you how much additional tax you may owe.  Other than that, not reporting $11 of income is not going to cause you to get in trouble.

 

@tidyana01 

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