Hello,
I'm using 2024 TurboTax Deluxe version:
Filed Married filed Jointly
Income: W2, pension, interests, long term capital gain.
Fed and NC state tax withholds.
TurboTax calculated that I owed the IRS by certain amount. I cut a check for that amount. About three weeks later, the IRS sent me a message to my IRS online account and also mailed me the same letter stating that I overpaid them for $143.00. This to me is a calculation error with the TurboTax software.
What retribution do I get for reporting this error. I have been using your software for about 40 years. This is the first error I encountered. Please help.
Tom.
What did the IRS change? Did you have a penalty listed in 1040 line 38? That is just an estimated amount. It’s very common for the IRS to send you a refund or a bill for more. The penalty is just an estimated amount. Turbo Tax can’t calculate the exact amount. You could have filled out form 2210 to try to reduce or eliminate it.