Received a late 1099 MISC for income I reported already, do I have to amend?
Why would the IRS be coming after you if you reported the income? If you reported everything, then the IRS will use the 1099 to cross-check, see that everything is in order, be happy and done with it. The lady was supposed to give you the 1099 by the end of January, and she may be penalized by the IRS for being late, but as long as you/wifey reported all the income - you're fine. It was supposed to be reported on Schedule C or as miscellaneous income on line 21 (schedule C sounds more suitable as it seems that your wifey is in a cleaning business). But there's no difference in how you report whether you got 1099 or not, so if you reported - you should be fine.
I can't find specific information for Form 1099-DIV for this tax year.  However, I found this quote for next tax season that talks about Form 1099-B: Due date for certain statements sent to recipients.   The due date for furnishing statements to recipients for   Forms 1099-B, 1099-S, and 1099-MISC (if amounts are   reported in box 8 or 14) is February 15, 2018. [emphasis added] I know many brokerages bundle the 1099-DIV with the 1099-B, so one might assume that the deadlines are the same.  February 15 seems consistent with the messages I got from my brokerages that said the forms will be mailed by mid-February. There actually are legitimate reasons, but they don't apply to most people.  Here are a few that I know of: You're self-employed and have to pay quarterly estimated taxes.  Rather than wait for the refund when you already have to pay 1/4 of next year's taxes at the same time, you just have the IRS apply to refund forward.  (so you're not out the money you owe while waiting for your refund). You're filing an amended or late return, and so you're already into the next year, and have a similar situation as #1, where your next year's taxes have already come due. You're planning on declaring bankruptcy, and you're under the Tenth Circuit, those credits might be safe from creditors For almost any other situation, you're better off taking the money, and using it to pay down debt, or put it somewhere to make interest (although, at the current rates, that might not be very much). "You can list it as other income reported on line 21 of form 1040.  In TurboTax, enter at: - Federal Taxes tab (Personal in  Home & Business) - Wages & Income -“I’ll choose what I work on” Button Scroll down to: -Less Common Income -Misc Income, 1099-A, 1099-C. -The next screen will give you several choices. Choose ""Other reportable Income"". You will reach a screen where you can type a description of the income and the amount. Type in the amount of income and categorize as Tutoring." Assuming the United States. This is a loan and not an investment.  You report this as income and will pay your tax rate on the 18% of the money that the borrower pays you (any money paid above what was originally lent) for the year in which it was received. You owe taxes on the income even if the borrower does not send you a Form 1099-INT showing the interest you received. For example: If you loan $10,000 and receive $1,800 in interest, and your tax bracket is 25%, then you will owe $450 in tax. "Sounds like your grandmother's estate had taxable income and the estate did not pay the estate ""INCOME"" tax.  Rather the estate shifted the burden to pay that tax on the beneficiaries which is why you received a K1.  If that K1 reports income received by you, then YES you would have to amend your tax return.  I am in exactly that same situation now.  After the October 15 deadline to file 2012 tax returns, I received a K1 for income received from my dad's estate.  I now have to file a late amended 2012 income tax return and pay income tax on what I inherited. My dad had a small estate, but the money that made up that small estate all came from an IRA he had.  He designated the estate as his beneficiary.  So when the stocks in the IRA were sold, that all became taxable income to the beneficiaries of the estate. Anything involving taxes is confusing at best.  But do not confuse estate income tax, with estate tax -- they are two different taxes. Hope this helps." "http://www.irs.gov/taxtopics/tc503.html says you can deduct ""Any prior year's state or local income tax you paid during the year."" So I would say as long as you have good records, you can deduct the excess refund you had to pay back in the year in which you paid it. Whether or not your return was amended shouldn't affect whether or not it is deductible." I assume US as mhoran_psprep edited, although I'm not sure IRS necessarily means US. (It definitely used to also include Britain's Inland Revenue, but they changed.)  (US) Stockbrokers do not normally withhold on either dividends/interest/distributions or realized capital gains, especially since gains might be reduced or eliminated by later losses. (They can be required to apply backup withholding to dividends and interest; don't ask how I know :-) You are normally required to pay most of your tax during the year, defined as within 10% or $1000 whichever is more, by withholding and/or estimated payments. Thus if the tax on your income including your recent gain will exceed your withholding by 10% and $1000, you should either adjust your withholding or make an estimated payment or some combination, although even if you have a job the last week of December is too late for you to adjust withholding significantly, or even to make a timely estimated payment if 'earlier in the year' means in an earlier quarter as defined for tax (Jan-Mar, Apr-May, June-Aug, Sept-Dec). See https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes and for details its link to Publication 505. But a 'safe harbor' may apply since you say this is your first time to have capital gains. If you did not owe any income tax for last year (and were a citizen or resident), or (except very high earners) if you did owe tax and your withholding plus estimated payments this year is enough to pay last year's tax, you are exempt from the Form 2210 penalty and you have until the filing deadline (normally April 15 but this year April 18 due to weekend and holiday) to pay. The latter is likely if your job and therefore payroll income and withholding this year was the same or nearly the same as last year and there was no other big change other than the new capital gain. Also note that gains on investments held more than one year are classified as long-term and taxed at lower rates, which reduces the tax you will owe (all else equal) and thus the payments you need to make. But your wording 'bought and sold ... earlier this year' suggests your holding was not long-term, and short-term gains are taxed as 'ordinary' income. Added: if the state you live in has a state income tax similar considerations apply but to smaller amounts. TTBOMK all states tax capital gains (and other investment income, other than interest on exempt bonds), and don't necessarily give the lower rates for long-term gains. And all states I have lived in have 'must have withholding or estimated payments' rules generally similar to the Federal ones, though not identical. This sounds like a rental fee as described in the instructions for the 1099-MISC.   Enter amounts of $600 or more for all types of rents, such as    any of the following. ... Non-Employee compensation does not seem appropriate because you did not perform a service. You mention that your tax-preparer brought this up.  I think you will need to consult with a CPA to receive a more reliable opinion.  Make sure to bring the contract that describes the situation with you.  From there, you may need to consult a tax attorney, but the CPA should be able to help you figure out what your next step is.