Any sugestions about form 4626?

[johnfineran3]

Need help after IRS letter requested this be filled out. Not part of teh Turbotax business software.

[JotikaT2]

You would only need to file Form 4626 if your company's average annual financial statement income exceeded $1 billion.  It's possible a box was checked accidentally when you completed the business return.

I recommend referring to the instructions provided by Faith C here for guidance on how to proceed with the letter from the IRS.

[trevor1]

There are several threads about the Form 4626 problem. I suggest new victims go here: https://ttlc.intuit.com/turbotax-support/en-us/help-search?advanced=false&allow_punctuation=false&fi...

and search for “4626” then read the various threads. This is clearly a serious error in the 2023 version of Turbo Tax for Business. I will guess it is sufficiently serious that Turbo Tax will take the trouble to fix it for the 2024 version.