2020 Form 1040SR Miscalculation

17 replies
130 views

TurboTax said I was getting a refund but IRS says I owe due to miscalculation of form 1040SR. What's happening? The notice code on the IRS letter is CP11

VolvoGirlAnswer

Level 15

Here is the info from the IRS accounts site. Since the dates were in 2021 I did not include this with the 2020 return. It appears the IRS did.

Code Explanation of Transaction Date Amount

766 Tax relief credit 01-18-2021 -$1,200.00

846 Refund Issued 01-04-2021 $1,200.00

This is going to be a headache at the end of this year if I have to remember these figures were part of 2020 instead of 2021.

Yes you were suppose to enter the second 1200 you got in Jan 2021. It even said that on the screen. To see if you got the right amount and if you qualified for more based on your 2020 return. Since you didn't enter it then it was claimed again on your return, which was wrong. The IRS knows they already sent it to you.

SForrestLO

Level 11

Please see this Turbo Tax FAQ for information on the notice. I got a CP11 Notice from the IRS

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

VolvoGirl

Level 15

A common adjustment is if you claimed the Recovery rebate credit on 1040 line 30 when you already got the Stimulus payment or got the second one after you filed or reported the wrong amounts. Do you have an amount on line 30?

jblinn9610Author

Level 2

Yes, there is an amount in line 30 1040-SR. It is 1200.00

VolvoGirl

Level 15

Did you already get both Stimulus payments? Or maybe get the second one after you filed? 1200 is the amount of the first one for Single or the second one for Joint or Single + 1 Child.

tmrocket504

Level 2

I got the same letter. I was supposed to be getting a refund, but now the IRS is telling me I owe $1,035?! A few weeks after I e-filed I received a notice telling me that I had to fix my State return (CA). I did that & resubmitted & then suddenly the federal return changed from me initially getting a refund to now owing money. I immediately called TurboTax & spoke to a representative who told me that since I already filed the federal & it was accepted that it shouldn't make a difference. Fast forward to today, I get this letter from the IRS saying I owe $1,035. Fine, if I do, in fact, owe them money, I have no problem paying, however, my gripe is with TurboTax since they are the ones that automatically calculated things. I'm going to be requesting a full refund from them. We'll see how that goes...

spatedot

Level 2

Have you gotten anywhere with this problem? Because The exact same thing happened to me and I can never get to where I can talk to a person for anyone to help me. I even paid for the extra support from Turbo tax.

bwasley2011

Level 2

This whole thing is crazy. My 1040 that I submitted 2/19/2020 showed my refund at $2168. I subsequently got a notice from the IRS saying that I owe them $1094.36. In reviewing my 2020 Tax Year filings with Turbo tax I discover that a 1040SR was somehow filed that gives me a refund of $4918. I understand that the stimulus amount I received was somehow not claimed on my original 1040 causing me to have a liability. My Tax Audit person (from Turbo Tax) had no command of the English language and proceeded to explain to me how the various lines of the 1040 are mathematically computed, something I completely understand. To try and stop the explanation was fruitless. I am very frustrated. My question really is: Who filed the 1040SR on my behalf? I don't remember doing it.