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Investors & landlords
TurboTax is inaccurate. Federal refund amount submitted to IRS is incorrect. The IRS refund on my Federal Taxes was $9 more than my TurboTax return. In 12 years of TurboTax returns 2020 is the first time my refund didn't match. Data on Form 8929 is supposed to match the 1099-B that financial institutions submit and it doesn't. This leads to bottom line Tax due/refund discrepancies. It is likely though unproveable, that TurboTax 2020 transaction level rounding is causing mismatches at the IRS. The IRS doesn't explain the $9. I did not override any data in TurboTax. There's no way to prove it is due to TurboTax transaction level rounding but my self-calculations on Schedule D without rounding each transaction was significantly lower than the number TurboTax generated and reported.