Question

Do I need to amend my tax return, which was accepted, if I get a corrected 1099-B where the total net gain or loss is the same as the uncorrected 1099-B?

Forum|Forum|1 year ago
March 26, 2025
1 reply
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The totals for the short, long, and undetermined are the same. For the short, Form 8949 type A and B has changed (for both proceeds and cost basis) in the corrected 1099-B, but again the total short-term overall (net gain or loss) did not change.

M

MAK70

If there is no change in taxes or income, you do not have to amend your tax return. You do want to keep a copy of the corrected form with your tax records but the IRS should make the correction in the classification.