topic Should I file an amended return? in After you file

Should I file an amended return?

phb33 — Mon, 14 Oct 2024 15:29:04 GMT

Hi, I discovered that the "Yes" column for line 8 on1040 schedule B (received distribution from or were a grantor to foreign trusts) is incorrectly checked for 2023. Should I file an amended return to fix this? The IRS ITA tool is suggesting that I don't need to file one.

Re: Should I file an amended return?

Anonymous_ — Fri, 20 Dec 2024 02:44:41 GMT

Re: Should I file an amended return?

pk — Mon, 14 Oct 2024 17:51:52 GMT

@phb33 this checkmark is important if there is a need for form 3520 ( US$100,000 threshold ). Thus I do not believe that a misplaced check mark requires the curative 1040-X ( amended return ). There is a possibility that the IRS may send you a note requesting form 3520 ( but it highly unlikely ). So no need for an amended return .

Is there more I can do for you ?