topic Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV? in After you file

Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV?

watch131719 — Fri, 28 Feb 2025 04:31:55 GMT

I reviewed my 2023 tax returns, and I found that I did not report that a part of my dividend on a 1099-DIV is from US Government interest. As I result, I overpaid my Oregon State Tax.

I like to file an amendment to my 2023 Oregon Tax Return to recover my overpayment.

Here are my questions.

TurboTax records the US Government interest portion of my DIV during the Federal Taxes amendment interview. This information is then used to amend my state return.

Is US Government interest portion of dividends even reported to the IRS?
In other words, do I need to file a Federal Income Tax amendment, since the new information has no bearing on my Federal income tax obligation?

Re: Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV?

SteamTrain — Fri, 28 Feb 2025 19:00:43 GMT

@watch131719

No, you shouldn't have to amend the Federal file for that. That entry, even though done in the Federal section, that only affects how much the state taxes.

So for every $100 from the 1099-DIV, that you identify as being from US GOvt interest......if your state has a nominal 5% tax rate, you'd get $5 back. (for Oregon, the rate appears to be graduated 4.75% to 9.9%)

Re: Federal Income Tax Amendment to Correct US Government Interest of a 1099-DIV?

MonikaK1 — Wed, 05 Mar 2025 01:36:15 GMT

As @SteamTrain stated, you should be able to amend just your Oregon prior year state return to make the change noted for your 1099-DIV.

To find your previous years' returns, in TurboTax Online:

When you first open your return and see "let's keep working on your taxes", scroll down to the section "Your tax returns and documents". If you prepared your 2023 tax return in TurboTax, in the same account, you should see "2023" listed among the documents you can select to view. If you used a different TurboTax account for 2023, you would need to log in to that account to view your return. See this help article for more information.

If you need to amend only your state return, please see this help article for instructions for both TurboTax Online and TurboTax Desktop.

@watch131719