You'll need to sign in or create an account to connect with an expert.
That feature has been removed since ultimately, all audits are at the discretion of the IRS. But, the Audit meter was based on the likelihood of an audit, as specified by the IRS.
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 about audit risk.
That feature has been removed since ultimately, all audits are at the discretion of the IRS. But, the Audit meter was based on the likelihood of an audit, as specified by the IRS.
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 about audit risk.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
wandawww262
New Member
TurboLover2
Level 4
cavalier2025
New Member
daresher
New Member
tcasesa
New Member