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Level 2
posted Feb 28, 2023 3:31:27 PM

Corrected Form 1099 Received - How to Adjust my 1040?

In mid February, I received my broker's Composite 1099 which included Ordinary and Qualified Dividends.  I downloaded it into Turbo Tax successfully.  I recently received a CORRECTED Composite 1099 with revised Qualified Dividend numbers but the same Ordinary Dividend figure.  My question is how to best enter the corrected data - do I go into Turbo Tax forms and edit the "Ordinary Dividends" number myself in the "Qualified Dividends" field, or do I retain the original Ordinary Dividends number on the form and put the corrected figure in the "Adjusted Qualified Dividends" field I see in the TurboTax interview?

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1 Best answer
Intuit Alumni
Mar 1, 2023 12:46:58 PM

Please follow the instructions here by @TomK on how to edit a form prior to filing. 

 

If you have any questions feel free to post here, or for immediate assistance please click here to give us a call. 

4 Replies
Level 2
Feb 28, 2023 3:37:15 PM

EDIT: Should read "my question is how to best enter the corrected data - do I go into TurboTax forms and edit the "Qualified Dividends" field using the corrected figure, or, do I retain the original Qualified Dividends number on the form and also add the corrected figure in the "Adjusted Qualified Dividends" field in TurboTax?  Thank you.

Intuit Alumni
Mar 1, 2023 10:23:21 AM

Have you already filed your original return?

Level 2
Mar 1, 2023 12:10:25 PM

No I have not yet filed my return.  It is still in draft mode.  Thanks. 

Intuit Alumni
Mar 1, 2023 12:46:58 PM

Please follow the instructions here by @TomK on how to edit a form prior to filing. 

 

If you have any questions feel free to post here, or for immediate assistance please click here to give us a call.