Forgot 1099-INt $700

Forum|Forum|1 year ago
April 9, 2025
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I forgot a 1099-INT for a bank account that had $700 interest. I just submitted my taxes yesterday and they just were accepted.
Do I need to wait for them to process and receive my first payment before I amend?
how does the amendment and payment process work ? On the irs website, if I owe money on the amendment, would I just choose “amended return” for the payment type
Next year when I file would I use the agi and information off the amended return?

Ask the Experts - Tax Due - April 2025

MAK70

It is usually best to wait for the original return to be processed before you amend, but since it is so close to the tax deadline and you are adding income, you may want to go ahead and do it as soon as you get the notice it was accepted. You would be able to make payment for the amendment when you submit the amended return, and yes next year you will use the AGI and information from the amended return.

giner05Author

just to clarify, if my taxes were accepted (not processed), I can go ahead and amend and pay the taxes I owe from the amendment via the irs website before 4/15 even though my original payment has not gone through?

MAK70

Yes, your payment with the amended return will only be the additional amount you owe- the IRS will process the original first ad take the first payment. It is a good idea to check that both payments are processed (maybe about in a month because it may take longer because of volume) because it will be easier to make sure it is all correct. @giner05