Correct Turbotax record due to IRS discovered Error on 1040SR

[RC Soda]

IRS refund $301 due to error on my 2022 1040SR, Schedule C/C-EZ-E2.

IRS stated the errror was one of the following:

- Computation of the net profit or loss on Schedule C/C-EZ

-Transfer of the amount to your tax return.

Q1: Will my TurboTax record automatically ajdusted like IRS did?

Q2: How shall I correct my TurboTax 2022 submital record on my PC?

Q3: Do I need to file an extendsion?

[xmasbaby0]

TurboTax gets no information whatsoever from the IRS after you file your return, so, no, nothing will change in your TT account or on the tax file that is stored on your hard drive as a result of a change made by the IRS.

You say they corrected your 2022 return.  That means you filed a 2022 return and it has been processed.  You have no need to get an extension for 2022--which would not be possible anyway since you had to get an extension for 2022 by April 15, 2023.  Why do you think you need an extension?  

Do you disagree with the change the IRS made?  The letter they sent to you should explain what do do if you disagree with the change.

[bkaytaxes]

Hello @RC Soda 

That is an excellent question!  Changes made by the IRS after they have processed your return are not automatically adjusted on your Turbo Tax Records. 

Firstly if you received a letter from the IRS requesting action and you purchased Audit Defense make sure to reach out to them as they will get you all squared away.  Here is there contact:  (877) 829-9695 toll-free.  Audit Defense   

If the IRS made an adjustment and sent the refund with no further action required you do no need to do anything.  Just keep the communication so you know the filed return has some edits made after it was sent in and once you go to do your 2023 return you have a complete picture.   We don't recommend making changes after a return is filed since that is what was transmitted to the IRS.

The deadline to file an extension was the original tax deadline of April 18, 2023.  So you would not be able to file and extension at this time and if the IRS has not requested any additional information from you it would not be necessary.  

If you would like us to take a closer look, please sign in and request help from an Agent, we can take a look for you and make sure you are on the right track.  Reach us by signing into your account or call us here:  1-800-446-8848

Wishing you all the best!

[VolvoGirl]

You need to find out and understand exactly what the IRS changed.   You don't need to fix your 2022 return but it may affect your 2023 return next year.  Did you enter something wrong?  

[Mike9241]

we don't know which way the adjustment went. But if you were charged penalties and interest, you could file a claim under Turbotax's accuracy guarantee

https://ttlc.intuit.com/turbotax-support/en-us/help-article/intuit-account-billing/submit-claim-turb...