I received a letter with my mutual fund 1099 forms indicating that the values reported are “preliminary and subject to change”. What should I do?
Because of the complexity of calculating “qualified dividends”, many brokers and mutual fund companies request an extension of time from the IRS to send out “final” 1099 Forms. If you use the first form you receive on your tax return and later the figures are changed then an amended tax return will need to be filed. There is an additional fee to refile a tax return, therefore, I recommend scheduling a mid-March appointment instead of a February appointment to avoid having to have the returns prepared twice.
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