Question

Do I have to process an amendment if I do not owe taxes or have anything owed to me? I processed taxes and received a 1099-S late for sale of home. I do not owe anything.

Forum|Forum|4 years ago
March 2, 2022
1 reply
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TurboTax Premier Online

No, you don't have to file an amended return. It is possible that the IRS will send you a letter because you did not report the sale. You can respond to them and explain that you received it after filing your return, and because there was no gain on the sale you do not owe any additional tax. Or you can file an amended return, that reports the sale and shows that there is not gain.

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