Besides having deductions that look puffed up, you can boost your odds of getting an audit notice with any of these:
--being self-employed (opportunities to cheat abound).
--having a 1099 mismatch (you show a $5,000 capital gain, the broker reports $15,000).
--having a large income (the IRS gets a better payback for audit efforts among the wealthy).
--claiming a large non-cash donation.
--reporting a loss from a business activity that could be a hobby.
Please see this Forbes article or this TurboTax Blog for more information.
Besides having deductions that look puffed up, you can boost your odds of getting an audit notice with any of these:
--being self-employed (opportunities to cheat abound).
--having a 1099 mismatch (you show a $5,000 capital gain, the broker reports $15,000).
--having a large income (the IRS gets a better payback for audit efforts among the wealthy).
--claiming a large non-cash donation.
--reporting a loss from a business activity that could be a hobby.
Please see this Forbes article or this TurboTax Blog for more information.