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Did TT underpay my taxes?

When I filed my taxes in April I paid exactly the tax TT said I owed. Now I got an IRS notice CP23 saying I underpaid by a couple of hundred bucks.

 

Puzzled, I opened the pdf copy of my return saved in April and verified that I had paid exactly what TT told me to then.

Next I opened the TT desktop app -- it went through a series of updates that it usually does -- and went to Personal >> Federal Review >> "Federal Taxes you owe". The amount TT shows there now is higher, and in line with the IRS notice!

 

What gives? Why the discrepancy between the pdf I saved in April when filing my taxes, and what TT shows now in June? I haven't opened the app again in the past two months, and haven't entered any new data. Did the software updates TT keeps doing force any adjustments?

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2 Replies

Did TT underpay my taxes?

You can compare your new data file with your original pdf.  You can open the Forms and compare the 1040, etc.  What is different?  

Did TT underpay my taxes?

Thanks. I compared the two forms and noticed that the QBI deduction on line 13 of form 1040 reduced. Tracing it to form 8995A, I see that TT earlier showed an amount on line 2 as Qualified Business Income related to a rental property, whereas now it shows a zero value.

Not sure why. Also, I see now that the difference doesn't quite add up to what IRS says I owe.

 

There's probably an explanation for all of this, but at this time, I guess it's best to just pay up.

Thanks VolvoGirl for the help!

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