after filing

sluncz — Mon, 24 Mar 2025 11:40:13 GMT

After filling My taxes Federal and state I get a amended 1099R from a insurance Co.
I paid tax on about $450 more than I should have do to an error on their first 1099R.
It will cost more for me to fix. It will be my loss. Not fed and State.
I want to just live with the loss. Is that wrong?

Re: after filing

SabrinaD2 — Mon, 24 Mar 2025 12:32:30 GMT

If you received a corrected 1099-R and paid tax on $450 more than you should have, you have a few things to consider:

Amend Your Return: File Form 1040-X to correct the error. This ensures your tax records match the IRS's records, as the corrected 1099-R was likely sent to them.
IRS Statement. "If you receive the missing or corrected Form W-2 or Form 1099-R after you file your return and the information differs from your estimates, you must file Form 1040-X, Amended U.S. Individual Income Tax Return."
Consider the Cost: If amending your return costs more than the $450 you overpaid, you might decide it's not worth it. However, accurate records can prevent future issues.
IRS Notice: Not amending your return could lead to discrepancies with the IRS, potentially triggering a notice.

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after filing

Re: after filing