Because of an error in a TurboTax calculation, you've overstated your allowed deductions allocable to investment income, leading to an understatement of Net Investment Income. As a result, you've underpaid your federal income tax.
We fixed the issue in TurboTax and want to make sure you have the information to determine if your return is complete and accurate. We continuously strive to provide correct and accurate calculations in our TurboTax products. Sometimes that effort results in our finding errors after returns have been filed.
We suggest you amend your 2018 federal tax return to correct the deductions allocable to investment income and pay the additional tax due. If you need our help, we’ve provided contact information below. You can amend your return yourself by following the step-by-step instructions are available for:
We’re here to help if you have questions or need assistance. You can call us at 1-877-216-2138 (Monday through Friday, 5 a.m. to 5 p.m. Pacific Time) to reach a tax expert who is prepared to assist you with this issue. Tell the expert you’re calling about 2018 Form 8960 deductions.