Question

I found a form 1099 from my bank. It has 42.28 interest income. federal income tax withheld is $0.00 Do I need to amend and add (file) this to my taxes?

Forum|Forum|5 years ago
February 23, 2021
1 reply
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I had already file my taxes and it was approved but I just found this 1099-INT form from my bank. Do I need to amend and add this or will I be alright?

TurboTax Deluxe Online

E

ErnieS0

It depends. Adding $42.00 of income may or may not result in additional taxes.

The amended tax form, Form 1040X, will not be available in TurboTax until March 25. You can start the amend process at that time and see if there is tax due. If so, you can file an amended return and pay the additional amount.

Click here for help: How do I amend my 2020 TurboTax Online return?

Or you can wait and see if the IRS makes an adjustment. The IRS will add interest if they send you a bill.

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