Amount of income on 1099-misc is $450 over what my records show i made. Do i need to address this or is the discrepancy too small?

[IsabellaG · Accepted solution]

If the payer gave you a 1099-misc for more than your records show, you should at least contact them to find out how the figure was calculated. If it's self-employment income, that $450 would be subject to both income tax and self-employment tax (15.3%) , so you may consider it worth your time to correct. I would advise filing your return according to the 1099-MISC you've received, and if it turns out that the payer was wrong, ask them to issue a corrected form. 

You have up to 3 years from 4/17/18 to file an amended return if the 1099-MISC is corrected.