Can someone tell me what my audit risk is?
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New Member

Can someone tell me what my audit risk is?

 
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Level 15

Can someone tell me what my audit risk is?

The "audit risk" meter has been discontinued in online TT.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
New Member

Can someone tell me what my audit risk is?

Besides having deductions that look puffed up, you can boost your odds of getting an audit notice with any of these:

--being self-employed (opportunities to cheat abound).

--having a 1099 mismatch (you show a $5,000 capital gain, the broker reports $15,000).

--having a large income (the IRS gets a better payback for audit efforts among the wealthy).

--claiming a large non-cash donation.

--reporting a loss from a business activity that could be a hobby.


Please see this  Forbes article  or  this TurboTax Blog  for more information.

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