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treeleaf
New Member

I am trying to determine how an amount was calculated on my 2014 return.

 
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I am trying to determine how an amount was calculated on my 2014 return.

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I am trying to determine how an amount was calculated on my 2014 return.

Did you get an IRS letter ?   What did they change ?
treeleaf
New Member

I am trying to determine how an amount was calculated on my 2014 return.

yes.  line 21, form 1040 other income 1099-Q.  The line should be 0 but has an amount that should not be there.  So,  I want to know if it was a calculated amount entered by TurboTax.  Now the IRS wants to tax the entire 1099-Q earnings.  I have receipts to show but I do not understand the amount on the return.

I am trying to determine how an amount was calculated on my 2014 return.

When you enter the college income and 1099-Q distributions in the Education section of the Deductions & Credits tab the program calculates how much of the 1099-Q distributions are considered taxable based on the information you provided.  The taxable portion should be reported on line 21.

If you have supporting documents showing how much was used for qualifying education expenses and it proves the amount on line 21 is incorrect you can amend the return to fix the error.  And you should be able to respond to the IRS letter using the same supporting documents.


If you purchased Audit Defense for your tax return, call Tax Resources, Inc. at (877)-829-9695, or report your notice on their web site at <a rel="nofollow" target="_blank" href="http://intuit.taxaudit.com/">http://intuit.taxaudit.com/</a>. Do not contact the IRS. Let Tax Resources contact them for you.

This is the membership email you should have gotten:  <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1901569-when-will-i-get-my-audit-defense-membership-kit">https://t...>
Also read the member agreement at this website -<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/corp/auditdefense.jsp">https://turbotax.intuit.com/corp/auditdefense.jsp...>

If you did not purchase Audit Defense:

TurboTax has a special phone number for help with IRS tax letters, which will be easier than going through regular Customer Support.   At the page below, click on the blue button that says "Get Help from TurboTax Support".  Then it will ask you what tax year is your letter.  Then it will ask you what the letter concerns. Then it will show you the phone number during posted business hours.

<a rel="nofollow" target="_blank" href="https://support.turbotax.intuit.com/irs-notice/audit-support/">https://support.turbotax.intuit.com/i...>

Also see the following link on the IRS web site for more help.
<a rel="nofollow" target="_blank" href="http://www.irs.gov/Individuals/Understanding-Your-IRS-Notice-or-Letter">http://www.irs.gov/Individua...>
treeleaf
New Member

I am trying to determine how an amount was calculated on my 2014 return.

Thank you Critter#2.  I will contact TurboTax IRS support to get advice for responding to the letter.

I am trying to determine how an amount was calculated on my 2014 return.

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