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March 25, 2021
Question

I got corrected 1099 from Robinhood after my tax return was accepted

  • March 25, 2021
  • 1 reply
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I got corrected 1099 from Robinhood after my tax return was accepted. There are few small changes on transaction records,  that changed my net loss by $80 less. It won't affect my tax liability of 2020,  but it will reduce the amount of short-term capital loss carryforward to 2021.

 

Do I need to amend my return of 2020? or just fill a reduced loss carryforward in 2021 report?

1 reply

March 25, 2021

Yes, you will need to amend your return of 2020 in order to have supporting documentation for IRS of the carryforward loss amount you want to carry to 2021.