rableach[at]NOSPAMyahoo.com posted:

- quote -

They must have a reason, but nothing leaps to mind. You
should contact your broker rep and ask him to track down an
exact explanation of the change and why.

- quote -

Assuming your broker ultimately explains the change and it
is correct, do not do anything until your "already-filed"
2003 return has been accepted. By which, I mean wait until
the refund due you has been received -- either by direct
deposit or check -- or until your payment has cleared your
bank and you have the cancelled check.

That's the earliest you should think about filing an amended
return (1040X). And that's what you would need to do, if
the 1099 correction was "correct."

Bill

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"Ray Bleach" <rableach[at]NOSPAMyahoo.com> wrote:

- quote -

Get a Form 1040X and complete it. That is the form with
which to amend Federal returns. You may need to get the
same type of form from the State where you live (if that
State has an income tax).

Wayne Brasch, CPA, M. S. Taxation

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My brokerage firm sent me a 1099 which agreed with my
calculations 100%. So I filed my taxes on Friday. Today
(Sat) I get a 1099 corrected.

First up, I think the 'corrected' one is wrong because its
no longer showing a dividend I actually received, instead it
is showing 2 new figures under 'proceeds from broker
transactions'. One number matches the dividend amount, and
the other amount is exactly $4 higher than that. So, it
seems my divided is now being taxable as capital gains?
Anyone know what could have caused this; and could it be
correct?

Second, the latest 1099 no longer matches my tax return
which is already in the mail. How do I notify the IRS that I
need to amend my return?

Thanks

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