How Do You Declare Stock Dividends From Previous Years?
Dividends are income. If you misrepresent your income on a tax return, there could be consequences. Luckily, you can amend returns from previous years to include dividends you hadn’t originally declared. Form 1040X can be used to amend returns filed on Forms 1040, 1040A or 1040EZ. You’ll need copies of the original returns you filed to make an amended return that includes stock dividends received in previous years. Step 1 Obtain Form 1040X. The Amended U.S. Individual Income Tax Return Form 1040X can be downloaded or ordered from the IRS website. (See Resources link below.) During tax season, it can also be obtained from public libraries or accountants. Step 2 Revise Schedule B. Dividends are ordinarily reported on Schedule B of Form 1040. When declaring new dividends, you should use your retained copy of the Schedule B you originally filed to create a revised Schedule B that includes the dividends you had not previously reported. Step 3 Calculate new adjusted gross income. Once you’ve
