There is a potential issue with the calculation of your Taxable Inherited IRA.

jianglai · Feb 26, 2021 7:11:06 PM

<DIV class="BaseView-head"><FONT size="3"><SPAN class="fuego-asset fuego-text Text-standard Text-inline">I got this after my tax was rejected. I don't even have a taxable inherited IRA. What am I supposed to do now? Is there a way to check if I've made any mistake in preparation to inadvertently include taxable inherited IRA? I don't want to wait because I have an underpayment penalty. The longer I wait the more interest is accrued.</SPAN></FONT><P> </P><SPAN class="fuego-asset fuego-text Text-standard Text-inline">Let's take a look at your return</SPAN></DIV><DIV class="BaseView-body"><DIV class="BaseView-primaryInfo BaseView-standard-section"><DIV class="fuego-asset fuego-collection fuego-collection Collection-collection"><DIV class="f[product key removed] Collection-inner"><DIV class="fuego-collection-items Collection-collectionItems"><DIV class="fuego-collection-item Collection-item"><SPAN class="fuego-asset fuego-text Text-standard Text-inline"><SPAN class="tag-important">Description of error:</SPAN></SPAN></DIV><DIV class="fuego-collection-item Collection-item"><SPAN class="fuego-asset fuego-text Text-standard Text-inline">There is a potential issue with the calculation of your Taxable Inherited IRA.</SPAN></DIV><DIV class="fuego-collection-item Collection-item"><SPAN class="fuego-asset fuego-text Text-standard Text-inline"><SPAN class="tag-important">What needs to be done:</SPAN></SPAN></DIV><DIV class="fuego-collection-item Collection-item"><SPAN class="fuego-asset fuego-text Text-standard Text-inline">We are reviewing updates to Taxable Inherited IRA calculations. We expect to have these updates done by March 5th, 2021.</SPAN></DIV></DIV></DIV></DIV></DIV></DIV>

@elithagawd318 wrote:

Hello I think I am accidentally being claimed as a dependent on someone else’s taxes and I shouldn’t be. This has affected my total return. How do I fix this?

What makes you think that? Did your e-file reject?

Or do you mean that you entered incorrectly?

You cannot claim yourself if another taxpayer *can* claim yourself even it that tax payer does not actually claim you. Those question are in the personal information section.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**