Hi, I discovered that the "Yes" column for line 8 on1040 schedule B (received distribution from or were a grantor to foreign trusts) is incorrectly checked for 2023. Should I file an amended return to fix this? The IRS ITA tool is suggesting that I don't need to file one.
@phb33 this checkmark is important if there is a need for form 3520 ( US$100,000 threshold ). Thus I do not believe that a misplaced check mark requires the curative 1040-X ( amended return ). There is a possibility that the IRS may send you a note requesting form 3520 ( but it highly unlikely ). So no need for an amended return .
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