turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

the student
Returning Member

Taxes Refund

Hey,

I have this quick questions.

So I made $1400 last year. 

I just filed for state and got $200 back. However, I still got $0 from federals. 

I filed for all of my stocks as well which is -$400. 

However i forgot to file for one of my other stock brokerage which I made $7 on it. 

Does it still matter? Cause my federal is still $0? and the deduction was like $2000 something? And would $7 be too small to matter? Thanks.
Do I need to refile? please help. 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
DavidD66
Expert Alumni

Taxes Refund

If you only made $1,400 and had a $400 capital loss, I wouldn't file an amended return to add a 1099-B that shows a $7 loss, unless the cost basis in question is either non-covered or not reported, in which case the IRS will assume that the entire amount of the proceeds is taxable.  If that is the case, depending upon the amount you might want to file an amended return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
the student
Returning Member

Taxes Refund

No,  I made $1400 on my job. and then i loss $400 on robin hood. And I gained $15 on acorns(another stock brokerage). 

 

I only reported robin hood since I forgot all about acorns. so would i need to file an amend? thanks.

the student
Returning Member

Taxes Refund

JohnW222
Expert Alumni

Taxes Refund

Technically, if you left income off of a return you've already filed, you'll need to file an amended return to report that income.

Please see the TurboTax articles "Do I need to amend?" and "How to amend (change or correct) a return you already filed" for additional information.

The IRS also has a good tool that can help you determine if you should file an amended return to correct an error.  Please see "Should I File an Amended Return?" to use this tool.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies