Missed $35.77 in dividend income paid on 12/29. Just received 1099 today.

Filed 2023 return last week.

File amended return or eff it?

Filed your return before receiving 1099s? Half the time dividends get reclassified in January anyway, especially if anything is international, preferred, or a number of other things. Slow is fast. Quick is slow.

You'll probably get something from the IRS saying your return doesn't match the 1099 provided by the broker.

gigemhilo said:

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CPA here. I would not amend. that likely changes your tax by about $7. If they IRS really wants it, they will send you a letter and you can deal with it then. Most likely you will fall under the threshhold at which they care.

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Thanks....this was my inclination.

I've done the same before for similar amounts and didn't bother, I've never heard from the IRS.

gigemhilo said:

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CPA here. I would not amend. that likely changes your tax by about $7. If they IRS really wants it, they will send you a letter and you can deal with it then. Most likely you will fall under the threshhold at which they care.

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Funny, as my CPA brother-in-law gets closer to retirement, the amount of oversight or error that he deems 'immaterial' seems to have grown from the days years ago when he'd calculate to fractions of cents. -- (probably exaggerating here).

Plus, with the professional billing fees attendant with correcting a mistake (if you pay someone to do your stuff), sometimes it's wiser just to let stuff slide.

But, don't do that when you're determining whether to pay NIIT on big-time money. I had a buddy who ... Well, not good.

I got hit with this last year for 39$ for energy transfer because of how it was classified. I did nothing, so I'll let you know in a few weeks

BenTheGoodAg said:

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