Hello, all. I am hoping that there might be some tax wonks in the room that could answer a question I have along those lines.
A week or two ago, I submitted my completed tax return. It was a complicated return because this year, for the first time, I had a lot of brokerage activity. I did my taxes the "old fashioned way," with a pencil and paper--a process that took me several weeks to complete and that I am loath to repeat!
A couple of days ago, I was horrified to receive in the mail a "revised" 1099-DIV from the Vanguard Brokerage indicating that one of my funds had reclassified certain capital gains distributions as dividends. The total amount reclassified was about $30.00--yes, thirty dollars. In all probability, this reclassification will have absolutely no effect on my bottom line, and the thought of re-doing my tax schedules at this point is making me sick.
Under the circumstances, am I required to file a revised return? Is there any alternative to this in a situation where the amount at issue is truly de minimis? I would sincerely appreciate any advice you could provide.
Thank you so much,
Emily Lynn
A week or two ago, I submitted my completed tax return. It was a complicated return because this year, for the first time, I had a lot of brokerage activity. I did my taxes the "old fashioned way," with a pencil and paper--a process that took me several weeks to complete and that I am loath to repeat!
A couple of days ago, I was horrified to receive in the mail a "revised" 1099-DIV from the Vanguard Brokerage indicating that one of my funds had reclassified certain capital gains distributions as dividends. The total amount reclassified was about $30.00--yes, thirty dollars. In all probability, this reclassification will have absolutely no effect on my bottom line, and the thought of re-doing my tax schedules at this point is making me sick.
Under the circumstances, am I required to file a revised return? Is there any alternative to this in a situation where the amount at issue is truly de minimis? I would sincerely appreciate any advice you could provide.
Thank you so much,
Emily Lynn