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Do I need to inform TurboTax of my error on Form 1040SR when filing my 2020 federal return?
The IRS caught a mistake on Form 1040XR that I made when filing my income tax. The report at TurboTax is incorrect. Do I need to inform TurboTax of this, or do I just need to keep the information with my 2020 return?
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July 1, 2021
4:04 PM
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Get your taxes done using TurboTax
There is no need to update your return in the TT program however if you do then you MUST save a PDF of the originally filed return before using the amendment process.
July 1, 2021
4:09 PM
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What was the error? Did you receive a letter or notice from the IRS?
Any adjustment made to the filed tax return by the IRS does not need to be reported to TurboTax.
Only a calculation error would need to reported and then only if the IRS is charging you penalties and/or interest based on the calculation error.
Did this have anything to do with the Recovery Rebate Credit on the Form 1040 Line 30?
July 1, 2021
4:10 PM
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Do you know if it will affect next year when you transfer into 2021? Will you need to carry it over? If not just keep the paperwork with a copy of your tax return.
July 1, 2021
4:45 PM