topic I received an amended Form 1099 Div., for 2018. Line 1a Qualified Dividend increased by $132.65 but no other entries changed. Should I submit amended return for 2018? in After you file

I received an amended Form 1099 Div., for 2018. Line 1a Qualified Dividend increased by $132.65 but no other entries changed. Should I submit amended return for 2018?

m-platz — Sat, 31 Aug 2019 01:36:24 GMT

Re: I received an amended Form 1099 Div., for 2018. Line 1a Qualified Dividend increased by $132.65 but no other entries changed. Should I submit amended return for 2018?

Anonymous — Sat, 31 Aug 2019 03:37:54 GMT

if nothing else changed on the 1099-div that means non-qualified dividends ( the difference between total dividends and qualified dividends) went down by an equal amount

filing an amended return probably would result in some tax savings but without knowing your tax situation no one can say how much. your choices are to either open up the 2018 return (not the amended link) enter the revised figure to see how much you would save and then make a decision as to whether to file an amended return or not. (there is no requirement to file an amended return if your taxes go down) then put the number back to where it was so you'll have no problems with AGI when doing 2019) or use the amended link to see. if you do not choose to file the amended return, you have to delete the changes.

while no one can say what your actual tax savings would be, if you know your tax bracket then multiply it by the $133. that would be the max.

Re: I received an amended Form 1099 Div., for 2018. Line 1a Qualified Dividend increased by $132.65 but no other entries changed. Should I submit amended return for 2018?

dmertz — Sat, 31 Aug 2019 14:37:32 GMT

The tax savings would be the difference between your tax bracket for ordinary income and your tax bracket for long-term capital gains. For most people the difference would be 9% of $135.65 or less, $12 or less of tax savings. However, if your ordinary income falls in the 32% or higher tax bracket, your tax savings would be higher. The maximum possible savings would be 20% of $132.65, $27, for certain filers whose ordinary income falls in the 35% tax bracket. There's also a very small chance that those whose ordinary income falls at the border between the 12% and 22% tax brackets would actually owe a small amount of taxes (a maximum of $4) due to this change.