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IRS Changes to my Return - Not Identified by TurboTax

I received the following message regarding changes to my return, they appear to be documents that were not identified by TurboTax as being necessary. How did this happen? These changes made a significant difference in my refund. Looking for an explanation. 

 

 

 

Details:

We changed the amount of business income or loss on your tax return because there was an error on Schedule C/C-EZ, Profit or Loss From Business. The error was in one of the following:

  1. Computation of the net profit or loss on Schedule C/C-EZ
  2. Transfer of the amount to your tax return.

Please read the following information related to your tax situation:

  1. Understanding Your IRS Notice
  2. Schedule C Instructions
 

 

 

 

Details:

We changed the amount claimed as Recovery Rebate Credit on your tax return. The error was in one or more of the following:

  1. The Social Security number of one or more individuals claimed as a qualifying dependent was missing or incomplete.
  2. The last name of one or more individuals claimed as a qualifying dependent does not match our records.
  3. One or more individuals claimed as a qualifying dependent exceeds the age limit.
  4. Your adjusted gross income exceeds $75,000 ($150,000 if married filing jointly, $112,500 if head of household).
  5. The amount was computed incorrectly.

Please read the following information related to your tax situation:

  1. Economic Impact Payment Information Center - Topic A: EIP Eligibility and General Information
  2. Economic Impact Payment Information Center - Topic J: Reconciling on Your 2020 Tax Return
  3. Understanding Your IRS Notice
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1 Reply

IRS Changes to my Return - Not Identified by TurboTax

Ok ... you have 2 issues to address ... first the self employment on Sch C ... did you enter the 1099-NEC income anywhere on the return?   Did you enter it on the Sch C  or Sch 1 line 8 ? 

 

And second the stimulus credit ... you can have either the stimulus credit  OR  the stimulus advance but not both.  So if you have the stimulus amount on the form 1040 line 30 but the IRS thinks they sent the advance already then you need to check your records for the payment ... then if you really did not get it have a trace put on the missing money. 

 

1) check you bank records from March - May, 2021 to see if you overlooked the fact that you received the 3rd stimulus already.  if you find it, there is nothing else for you to do.

2) if there is no record of receipt, then you'll have to complete the trace document and submit

 

https://www.irs.gov/pub/irs-pdf/f3911.pdf

 

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