I submitted my tax return weeks ago. And it has since been accepted. However, this morning I received an updated 1099 from my brokerage which resulted in a $1 difference (rounded). $1 dollar less than before in dividends. Now TurboxTax says I owe $53. Does this make any sense to anyone? And no, the $1 did not put me in a different tax bracket.

  • 5
    That seems unusual. It is possible that, in addition to the dollar amount, you have unintentionally recharacterized the dividend from "qualified" to "non-qualified", which would change the tax rate. I would suggest you try (1) backing out the change to see if it returns to the original tax amount, (2) check your inputs to see if you missed a checkbox or other entry, and (3) re-enter the change in a fresh copy of the original return (to see if you may have made a data entry error).
    – Istanari
    Commented Mar 12, 2019 at 12:59
  • 2
    Even if the $1 did put you in a different tax bracket, only that dollar would be taxed at the higher rate. Are the 1099's identical but for the amount, or are any amounts in different boxes? Very curious.
    – Hart CO
    Commented Mar 12, 2019 at 14:44
  • Have you compared the numbers for the entire return to see what boxes/sections changed? Commented Mar 13, 2019 at 10:03


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