Grrrr...New 1099-R Arrival

[Koolau]

True, but your statement puzzles me.

Heh, heh, I get that a lot!

Just ask DW.

(The "?" was because I wasn't absolutely certain that my statement was true. We ARE speaking about the IRS, so assuming something is true because it's logical could lead to "issues").

 

[audreyh1]

Thanks @SecondCor521. So if I estimate reasonably close now, and make three equal payments in April, June, and September, can I true-up the last payment in January such that it puts me at 90%? I'm thinking I should know enough by 1/15/27 to get to at least 90% accuracy, correct?

Yes, as long you also estimated well enough and met safe harbor the other 3 quarters you are good. If you underpaid the first 3 you will still owe a penalty.

 

[Trooper]

Thanks Audrey. I think I'm gonna use the prior year 110% safe harbor just to be...safe...LOL.
This is shaping up to be a BTD year, so I may end up owing closer to the higher 2025 amount anyway.

 

[audreyh1]

Thanks Audrey. I think I'm gonna use the prior year 110% safe harbor just to be...safe...LOL.
This is shaping up to be a BTD year, so I may end up owing closer to the higher 2025 amount anyway.

I routinely use prior year 110% for the first 3 quarters and then switch to current year 90% for Q4 due Jan 15. That way I can usually avoid overpaying estimated taxes.

 

[pb4uski]

Bumping this thread because just today I receive a corrected 1099-DIV dated May 1, 2026 from Schwab.

$500 less dividends and $500 more non-dividend distributions and $261 more 199A dividends.

I ran the new numbers through my return and would get an additional $6 refund.

Not bothering to amend. Perhaps the IRS will figure it our and send me $6 plus interest. My time is worth something.

 

[audreyh1]

Bumping this thread because just today I receive a corrected 1099-DIV dated May 1, 2026 from Schwab.

$500 less dividends and $500 more non-dividend distributions and $261 more 199A dividends.

I ran the new numbers through my return and would get an additional $6 refund.

Not bothering to amend. Perhaps the IRS will figure it our and send me $6 plus interest. My time is worth something.

Wow, that’s annoying! How could they get that so messed up? Were they non-Schwab funds?

 

[pb4uski]

Yes, because I don't have any Schwab funds other than SWVXX. The most recent revisions were related to a preferred stock JXN/PRA. I sold it in April 2026 so... problem solved!

There were two previous corrected 1099-DIVs on 2/20 and 3/08 before the one on 5/1.

 

[Trooper]

Not bothering to amend. Perhaps the IRS will figure it our and send me $6 plus interest. My time is worth something.

That would be my course of action also.

 

[JoeWras]

Bumping this thread because just today I receive a corrected 1099-DIV dated May 1, 2026 from Schwab.

$500 less dividends and $500 more non-dividend distributions and $261 more 199A dividends.

I ran the new numbers through my return and would get an additional $6 refund.

Not bothering to amend. Perhaps the IRS will figure it our and send me $6 plus interest. My time is worth something.

Super annoying that this still happens. When it happened to me about 12 years ago, I owed over $100 more in taxes. I promptly amended checking the "This is an amended 1099" box and I don't recall owing a penalty or interest. Maybe they waived it because of the late amendment? In any case, I had to amend, I didn't really have a choice.

Mine was with E*Trade carrying a weird ETF.