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Cali-buck
New Member

Bad tax calculations

For the second year in a row I've received a check from the IRS after filing with TurboTax, informing me that the calculations were wrong. My return isn't complicated, no deductions and some Schedule D stuff that I use Intuit because it's imported directly from my brokerage. So I know there's no typos. 

 

Should I be concerned that the math was wrong for some pretty basic stuff for two years in a row? 

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2 Replies

Bad tax calculations

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason,
SUCH AS, you suspect TurboTax is producing an incorrect tax return.
AND, to find your AGI next year.

@Cali-buck 

Bad tax calculations

Depends what the IRS changed.  Did you have any penalty on 1040 line 38?  That is just an estimated amount and it's common for the IRS to reduce it.  And as for importing from your brokerage it's not guaranteed to import right.  You have to check it over close.  It can import wrong.  

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