JulieS
Expert Alumni

Deductions & credits

No, you probably don't need to file a state or federal amendment for such a small amount. Unless you are on the edge of a new tax bracket, or phase out, $2 should not change your return. 

 

To be sure, you can start an amendment, add the 1099-DIV and see if it changes your tax. If it doesn't create an amount due, you don't actually have to file the 1040X. 

 

Here is how to start your amendment:

  1. Log in to your account, scroll to the bottom of the first page, select 2021, then Amend using TurboTax Online.
  2. Answer the first few questions, then select your reason for amending.
  3. Go to Federal Taxes in the upper left.
  4. Select Wages and Income toward the upper left.
  5. Scroll down, or expand the list and find Interest and Dividends.
  6. Expand that section and find Dividends on 1099-DIV.
  7. Click on Add/ Edit to the right.
  8. Answer the first question Yes.
  9. Click Continue.
  10. Click on Change how I enter my form in the lower right corner.
  11. Select Type it in myself.
  12. Fill in the information from your 1099-DIV.
  13. Click Continue.

You will notice that when you start the amendment, your refund or tax due will reset to $0. If it is still at $0 after you added the 1099-DIV, you can cancel the amendment and just keep the 1099-DIV with your tax records.

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