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Financial Planning / Tax Strategies
|Subject: Re: More 1099 issues||Date: 2/15/2013 6:55 AM|
|Author: TMFPMarti||Number: 117782 of 120826|
As I looked closer at the documents/1099 from my E*trade taxable account (my only taxable brokerage account), I see there are dividend & distribution totals of about $6-7 a year (in each of the above mentioned years)...when I then open my saved efile pdfs, I see that I did not report them on my returns.. ie- did not report $6-7/year dividends in the years 2009, 2010, 2011 and 2012.
So, at this point...... do I need to
Tax law answer. Amend the returns, state and Federal. Mail each in a separate envelope with a check for any additional tax due. They'll bill for interest if they want it. Your deadline for mailing the 2009 amendment is 4/15/2013.
Taxpayer answer. Chalk it up to experience, but do not file amended returns, which will cost more to process than any additional tax due. If those dividends were reinvested don't include them when calculating basis for your shares. If your conscience needs salving, send a check to reduce the national debt. The address is in the 1040 instructions.
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