topic Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error? in Get your taxes done using TurboTax

Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error?

TQL — Sun, 28 Feb 2021 01:44:13 GMT

Re: Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error?

mesquitebean — Sun, 28 Feb 2021 01:58:55 GMT

Print out the 2019 and 2020 returns and compare them line by line. It will be difficult since the forms were redesigned between the two years so the line numbers will not match up. Then wherever you notice a discrepancy, review that topic.

It can even be something as simple as a typo, such as numbers with digits transposed, a decimal in the wrong place, a comma in the wrong place, etc.

It's also possible that your income did drop, but only you can know that.

Re: Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error?

mesquitebean — Sun, 28 Feb 2021 02:01:48 GMT

@TQL

Also you appear to be using LIVE DELUXE. You are paying extra for that LIVE feature, which allows you to contact a CPA/EA tax expert at will, and to have them review your return prior to filing. So you can take advantage of that product feature, if you wish. But you should also compare the 2 returns yourself first.

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Re: Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error?

mesquitebean — Sun, 28 Feb 2021 02:15:05 GMT

@ TQL

Also be aware that TurboTax products will have a price increase after February 28. If you wish, we can tell you how to pay in advance to lock in your current early-season discount, then you can file later.

Current prices for Live Deluxe and the undiscounted prices soon to be:

Federal return: $90 (increases to $120 on March 1)

State return: $50 (increases to $55 on March 1)

Optional: Pay fees out of Federal refund: additional $40 service fee ($45 for California filers.)

Re: Using Turbotax, the final income for 2020 is much less than for 2019, is it possible or a software error?

TQL — Tue, 02 Mar 2021 17:40:56 GMT

Thank you for your suggestion. It was a typo error from my part.