Letter from the IRS

Forum|Forum|5 years ago
April 17, 2021
3 replies
19 views

I filed my taxes quite a while ago any I just received a letter from the IRS saying that I miscalculated and that I owe $1386.00. I have gone back through my forms and the only thing I can see that may have created this error is, when I look at the Total income, it shows the 2 W2s, a little interest, $5068 in unemployment. Then the next line shows a -$5068. Why would that income have been reversed. Or perhaps this is not the problem. I have been using Turbo Tax for years and have never had any issue of any kind before.

Thank you for any help you may be able to provide.

Lynda

DanaB27

Employee Tax Expert

If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable. Therefore, the -$5,068 on line 8 should be correct.

The notice should give you more details where the miscalculation was. Please see Understanding your CP11 Notice for additional information.

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