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Retirement tax questions
I waited until July 2020 to file my son's 2019 return so all forms were updated but TurboTax didn't calculate it right. I calculated with pre TCJA and post TCJA, and using pre TCJA appeared to be slightly less. 9 months later I receivd a tax refund for almost the full amount of tax. He had dependent child Social Security income, dividends and capital gains and a small amount of earned income. IRS notations were that there was an error in Taxable Income and Tax Computation (TT said he owed $4600 and IRS said 160, rounding)
I filed a paper return for 2019 which I assume accounts for the delay.
I recommend that people recalculate 2019 with another program or maybe use 2020 as a test.
May 8, 2021
9:54 PM