I purchased 4-week T-bill from treasurydirect in 2022, and it turned out that treasurydirect does not mail 1099-INT, and I forgot to include the $77 interest in the 2022 tax return. I am now trying to amend my tax return, and after entering the 1099-INT information (I only have $77 in Box 3, and not information in other boxes), turbotax calculates that I have $19 federal tax due, and asks me if several uncommon situations apply. Among all those situations, I am not sure if the taxable amount needs to be adjusted. Would you please let me know if I shall check this box that says "we need to adjust the taxable amount", or how can I figure it out?
Please let me know if I shall provide any additional information. Thanks!
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No, you should not have to adjust the amount.
Remember when filing an amended return:
You might need to file an amended return if any of the following are true:
Before you amend your return, here are three things you need to know.
First, make sure you got your refund or paid your taxes due from the originally filed return; you want to make sure the government doesn’t get confused with your money, so the original return needs to be all squared away before you amend.
Second, print a copy of your original return and have it right by your side when you start to amend in TurboTax. Trust us; this is really important.
Third, you can amend this year’s return only with this year’s version of TurboTax. If you want to amend your return from a prior year, use that year’s version of TurboTax.
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