I just got an amended 1099int for 2016. Apparently they are reclassifying $494 from qualified dividend to nondividend distribution. My Federal tax goes down $90 and state $35.
Do I amend 2016 exactly the same way I just amended my 2017?
What would happen if I ignore this? Yeah, $125 is something, but not sure it is worth the hassle. Would they just pay me like they would bill me if my taxes went up and I ignored it?
========================================= MODERATOR'S COMMENT: I would amend, I would not think IRS will cut you a check unless you amend,