I filed my taxes 3 weeks ago and got a corrected 1099div today. When I put the new numbers in, I owe the IRA $100 and my NY refund is $50 less.
Presumably this will require a pair of amended returns. Anything to watch out for here? Do I transfer $50 to NY, or expect them to reduce my refund (which I haven't gotten and don't expect to for a while.)
Thanks.
Oops! IRS, not IRA
Any stock that requires a K-1 form or some 1099's come late in march. I never file until after Apr.1
Most 1099's come in Jan or Feb.
And he did get the 1099 before he filed -- do you really wait just in case you might get an amended 1099?
He obviously doesn't own any LPs, since he wasn't waiting for K-1's.
Anyway, I think the answer to the original question is to file the amended returns, and send $50 to New York. I wouldn't expect them to process the amended return before processing the original, so they won't net it out for you.
REITs (or at least some of them) are also notorious for sending amended
1099s. So, maybe best to hold off filing.Have something to add? Share your thoughts — no account required.
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