Incorrect income

Forum|Forum|2 years ago
April 2, 2024
2 replies
5 views

I have entered all of my income, and every document and form that I check, it's listed correctly. However, somewhere, TurboTax has added nearly $1 million to my income! I have checked and rechecked, but I cannot find where this information is coming from. Please help!

DMarkM1

Level 15

You will need to look at your actual forms to see where the extra income is showing up. In desktop (CD/Download) products use the forms mode and in online versions use the steps below to preview your form 1040.

1. Select "Tax Tools" in the left hand menu
2. Select "Tools"
3. Select "View Tax Summary"
4. Select "Preview My 1040" in the left hand menu

The income lines are lines 1-9 on your form 1040. Once you see what lines the extra income is showing up on, you can go directly to that area in the federal interview to find/correct the error.

Sometimes you may need to delete forms (online steps below) and re-enter information by directly typing the form information into TurboTax even if the error is not obvious in the entries. For example, you see the extra income in line 3b (dividends) which indicates a form 1099-DIV, however, you don't see an entry error. Go ahead and delete the 1099-DIV forms and re-enter the information anyway.

1. Select "Tax Tools" in the left hand menu
2. Select "Tools"
3. Select "Delete a Form"
4. Find the income form that may be in error
5. "Delete"
6. "Confirm Deletion"

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taxlady28

Level 10

That happened to me once. I deleted everything in the account and started over. It seemed to just be something strange with the TurboTax computers.