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IRS sent me unexpected refund. From the tax transcript it looks like they used the wrong value ("0") for Unrecaptured 1250 (should be non-0 per D 19). How do I proceed?
I double-checked my filed return, and schedule D line 19 has a non-0 value (Unrecaptured Section 1250). Then I looked at the tax transcript and they apparently used a value of 0. This means that the amount was incorrected taxed at a lower rate (the capital gains rate) than it should have been (the income tax rate).
I don't want to cash this check since it looks like a mistake (on their end). How do I get it corrected? (or perhaps confirm if they had a valid reason to do that).
I don't want to cash this check since it looks like a mistake (on their end). How do I get it corrected? (or perhaps confirm if they had a valid reason to do that).
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‎January 1, 2021
3:58 PM