Question

Calculation Error

Forum|Forum|4 years ago
August 18, 2021
1 reply
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A letter from the IRS states; "We found a miscalculation on your 2020 Form 1040SR, which affects the following area of your return:

* Recovery Rebate Credit

We changed your return to correct this error.

As a result you owe- ____"

What should I do? Is this covered by Turbotax guarantee?

Other

Critter-3

The amount of stimulus you got in advance is a user entry only so the error is the user's and is not covered by the guarantee.

If you believe you entered the correct amount that you got in advance in the TT program and the missing amount is on line 30 of the form 1040 is correct then you will need to (1) pay the bill and then (2) put a trace on the missing money.

Check your account on the IRS web site to see what they say was sent to you ... set up an account if you have not yet done so ... https://www.irs.gov/