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Tax Q: should I get 3K return or $400? Used 2 diff softwares, chance it?

TurboTax is more accurate most likely and I get $400 TaxA...
vivacious aquamarine travel guidebook
  03/19/18
What's the cause of the difference?
Crusty messiness karate
  03/19/18
TaxAct for some fucking reason won't correctly link my Sched...
vivacious aquamarine travel guidebook
  03/19/18
What’s your AGI? I’m guessing you won’t be flagged either w...
olive frozen field generalized bond
  03/19/18
I think my AGI was like 110K or so I had another 10K from...
vivacious aquamarine travel guidebook
  03/19/18
You're fine. Plausible deniability. At worst pay a few perce...
olive frozen field generalized bond
  03/20/18
1099-Misc is super easy for the IRS computers to match up. ...
Crusty messiness karate
  03/19/18
that's why I am leaning toward the 400 dollars, it just seem...
vivacious aquamarine travel guidebook
  03/19/18
ljl. that 1099 will pwn u. take the 400.
Fear-inspiring bull headed partner
  03/19/18
it's not that I am reporting 0 on the 1099, but for some rea...
vivacious aquamarine travel guidebook
  03/19/18
It could be reported as "other income" like a hobb...
sooty stimulating piazza dragon
  03/19/18
literally every single year since 2012 when I started this g...
vivacious aquamarine travel guidebook
  03/19/18
I mean look at the 1040/schedule c/etc being produced by eac...
sooty stimulating piazza dragon
  03/19/18
I can see the 1040 but cannot see the Schedule C form until ...
vivacious aquamarine travel guidebook
  03/19/18
...
vivacious aquamarine travel guidebook
  03/19/18
...
vivacious aquamarine travel guidebook
  03/19/18
...
vivacious aquamarine travel guidebook
  03/19/18
...
vivacious aquamarine travel guidebook
  03/19/18
If you don't report income from a 1099, it will 100% be caug...
sooty stimulating piazza dragon
  03/19/18
to be clear I am reporting the 10K from my 1099-MISC, but fo...
vivacious aquamarine travel guidebook
  03/19/18
Which box or boxes are filed in on your 1099 misc? On the...
sooty stimulating piazza dragon
  03/19/18
1099 Misc item 7, nonemployee compensation is ~10K on the...
vivacious aquamarine travel guidebook
  03/19/18
If the 10k doesn't show up on any line of your return, then ...
sooty stimulating piazza dragon
  03/19/18
Bro out the side gig
wine legal warrant
  03/19/18
I've posted about it before but I am a ghostwriter for a com...
vivacious aquamarine travel guidebook
  03/19/18
This happened to mine last year and I got arrested for six m...
180 magenta location friendly grandma
  03/19/18
lol
vivacious aquamarine travel guidebook
  03/19/18
...
Submissive razzle house
  03/19/18
For something like this, would they audit, or just recalcula...
Twisted Cracking Pit Preventive Strike
  03/19/18
"Audit" is a term almost without meaning in the IR...
sooty stimulating piazza dragon
  03/19/18
The service has your 1099. It'll get caught by the matching ...
At-the-ready French Range Antidepressant Drug
  03/19/18
To be clear it's NOT that I am NOT entering my 1099 .... it'...
vivacious aquamarine travel guidebook
  03/19/18
Then it's some combo of matching error and arithmetic error....
At-the-ready French Range Antidepressant Drug
  03/19/18
ty
vivacious aquamarine travel guidebook
  03/19/18
Decided to just take the 400 and not get assfucked. ty all. ...
vivacious aquamarine travel guidebook
  03/19/18
class action taxact
Crusty messiness karate
  03/20/18
Just looked at TurboTax taxable income: 110K TaxAct's: 10...
vivacious aquamarine travel guidebook
  03/19/18
PLAUSIBLE DENIABILITY!!
Thriller round eye
  03/20/18
...
vivacious aquamarine travel guidebook
  03/20/18


Poast new message in this thread



Reply Favorite

Date: March 19th, 2018 9:32 PM
Author: vivacious aquamarine travel guidebook

TurboTax is more accurate most likely and I get $400

TaxAct fucking sucks and it misapplied some data on my side gig, but has a refund of $3K

Obviously the Q is whether I'll be audited, which is less than 1% but it's 3K and I could easily claim unintentional error and just pay a small amount if they come at me since I did use a program to guide me

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641577)



Reply Favorite

Date: March 19th, 2018 9:33 PM
Author: Crusty messiness karate

What's the cause of the difference?

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641581)



Reply Favorite

Date: March 19th, 2018 9:35 PM
Author: vivacious aquamarine travel guidebook

TaxAct for some fucking reason won't correctly link my Schedule C and 1099-MISC, so my side gig is showing up as that I owe $0 in taxes ... I'm worried that might trigger an audit as paying $0 is pretty weird, I have paid like 3-5K in the past so maybe that'd be a red alert

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641592)



Reply Favorite

Date: March 19th, 2018 9:41 PM
Author: olive frozen field generalized bond

What’s your AGI? I’m guessing you won’t be flagged either way and I’d use Tax Act and feign that you thought it was correct. Odds are you never get audited.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641627)



Reply Favorite

Date: March 19th, 2018 9:45 PM
Author: vivacious aquamarine travel guidebook

I think my AGI was like 110K or so

I had another 10K from a side business

It is so fucking tempting to take this 3K but I worry a big fat zero for business income/self tax will be a huge red flag

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641652)



Reply Favorite

Date: March 20th, 2018 12:29 AM
Author: olive frozen field generalized bond

You're fine. Plausible deniability. At worst pay a few percent in interest. NBD. You won't get caught FWIW. If you made over 250K, you'd be under more of a microscope.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642989)



Reply Favorite

Date: March 19th, 2018 9:51 PM
Author: Crusty messiness karate

1099-Misc is super easy for the IRS computers to match up. Wouldn't that be a massive audit flag?

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641694)



Reply Favorite

Date: March 19th, 2018 9:54 PM
Author: vivacious aquamarine travel guidebook

that's why I am leaning toward the 400 dollars, it just seems like a huge red flag to report $0 business income when I literally have a 1099 for like 10K

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641706)



Reply Favorite

Date: March 19th, 2018 9:59 PM
Author: Fear-inspiring bull headed partner

ljl. that 1099 will pwn u. take the 400.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641740)



Reply Favorite

Date: March 19th, 2018 10:00 PM
Author: vivacious aquamarine travel guidebook

it's not that I am reporting 0 on the 1099, but for some reason the "business income" line on the 1040 comes up as 0 which makes absolutely no sense

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641746)



Reply Favorite

Date: March 19th, 2018 10:05 PM
Author: sooty stimulating piazza dragon

It could be reported as "other income" like a hobby. Is it there on your 1040?

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641780)



Reply Favorite

Date: March 19th, 2018 10:28 PM
Author: vivacious aquamarine travel guidebook

literally every single year since 2012 when I started this gig it showed up correctly as business income; it's not in the other income spot either, for whatever reason TaxAct's new version is not handling this right

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642000)



Reply Favorite

Date: March 19th, 2018 10:33 PM
Author: sooty stimulating piazza dragon

I mean look at the 1040/schedule c/etc being produced by each program and compare them. We can't diagnose this and figure out which will be accepted without more information

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642045)



Reply Favorite

Date: March 19th, 2018 10:35 PM
Author: vivacious aquamarine travel guidebook

I can see the 1040 but cannot see the Schedule C form until AFTER I submit on TaxAct, you literally cannot get a preview

On TaxAct it shows my business income as $0 (line 12, 1040)

On TurboTax it's around 5K (line 12, 1040)

To me this is too great to ignore, especially since I have a 1099 MISC for 10K, it would be such a red flag to report $0 business income

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642070)



Reply Favorite

Date: March 19th, 2018 9:37 PM
Author: vivacious aquamarine travel guidebook



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641603)



Reply Favorite

Date: March 19th, 2018 9:41 PM
Author: vivacious aquamarine travel guidebook



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641626)



Reply Favorite

Date: March 19th, 2018 9:47 PM
Author: vivacious aquamarine travel guidebook



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641663)



Reply Favorite

Date: March 19th, 2018 9:48 PM
Author: vivacious aquamarine travel guidebook



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641667)



Reply Favorite

Date: March 19th, 2018 9:57 PM
Author: sooty stimulating piazza dragon

If you don't report income from a 1099, it will 100% be caught, and quickly.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641720)



Reply Favorite

Date: March 19th, 2018 9:58 PM
Author: vivacious aquamarine travel guidebook

to be clear I am reporting the 10K from my 1099-MISC, but for some reason the shiTTTy TTTaxAct program doesn't match that up to put in a business income, which TurboTax put in as 5K (I guess you subtract some things from the 10K off the 1099 to get this number)



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641732)



Reply Favorite

Date: March 19th, 2018 10:01 PM
Author: sooty stimulating piazza dragon

Which box or boxes are filed in on your 1099 misc?

On the actual tax forms when you preview them, where do you see those same numbers in each program?

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641753)



Reply Favorite

Date: March 19th, 2018 10:30 PM
Author: vivacious aquamarine travel guidebook

1099 Misc item 7, nonemployee compensation is ~10K

on the tax form, 1040, line 12 it specifically says "Business income or (loss). Attach Schedule C or C-EZ" and according to the TaxAct preview it comes up as empty (or 0)

last year it was ~4K

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642017)



Reply Favorite

Date: March 19th, 2018 10:34 PM
Author: sooty stimulating piazza dragon

If the 10k doesn't show up on any line of your return, then you've made a data entry mistake and it will be caught virtually immediately when you submit it

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642056)



Reply Favorite

Date: March 19th, 2018 9:57 PM
Author: wine legal warrant

Bro out the side gig

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641727)



Reply Favorite

Date: March 19th, 2018 9:59 PM
Author: vivacious aquamarine travel guidebook

I've posted about it before but I am a ghostwriter for a company that has a long standing industry leading blog, newsletter, and variety of communications

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641735)



Reply Favorite

Date: March 19th, 2018 9:58 PM
Author: 180 magenta location friendly grandma

This happened to mine last year and I got arrested for six months. It actually ended up costing more due to legal fees than what I saved so be careful.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641731)



Reply Favorite

Date: March 19th, 2018 9:58 PM
Author: vivacious aquamarine travel guidebook

lol

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641733)



Reply Favorite

Date: March 19th, 2018 10:05 PM
Author: Submissive razzle house



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641782)



Reply Favorite

Date: March 19th, 2018 10:11 PM
Author: Twisted Cracking Pit Preventive Strike

For something like this, would they audit, or just recalculate the tax for you?

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641845)



Reply Favorite

Date: March 19th, 2018 10:14 PM
Author: sooty stimulating piazza dragon

"Audit" is a term almost without meaning in the IRS context for individuals, despite popular usage. The IRS has maybe a dozen levels of contact/scrutiny they can apply toward your return. A mismatched 1099 would result in a letter saying "Heads-up, we're gonna boost your income by this missing amount we noticed, any objection? Let us know ok"

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35641872)



Reply Favorite

Date: March 19th, 2018 10:38 PM
Author: At-the-ready French Range Antidepressant Drug

The service has your 1099. It'll get caught by the matching program. It won't be an audit they'll just adjust your return, add the income, and send you a bill with (possibly) a small fine and (definitely) some interest. They won't miss what you are describing.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642102)



Reply Favorite

Date: March 19th, 2018 10:42 PM
Author: vivacious aquamarine travel guidebook

To be clear it's NOT that I am NOT entering my 1099 .... it's that for some reason the 1099 when matched up with my Schedule C says my business income/tax is $0 which is just impossible and has historically been a couple of Gs

When I used TurboTax this was found out with no problems, so I think it's something on TaxAct

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642142)



Reply Favorite

Date: March 19th, 2018 10:46 PM
Author: At-the-ready French Range Antidepressant Drug

Then it's some combo of matching error and arithmetic error. Either way the service has a record ofthe income and they'll know u didn't pay enough tax. It doesn't take a live field audit with their top man to figure this out, the computer will catch it 100% of the time and send you a form letter gently fucking your ass.

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642175)



Reply Favorite

Date: March 19th, 2018 10:46 PM
Author: vivacious aquamarine travel guidebook

ty

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642178)



Reply Favorite

Date: March 19th, 2018 10:47 PM
Author: vivacious aquamarine travel guidebook

Decided to just take the 400 and not get assfucked. ty all. this is not a data entry error, I swear, but something wrong with TaxAct. I've tried all night to fix it so my schedule C is correct but it just won't match up my 1099 MISC compensation with the Schedule C to create the right business income amount

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642188)



Reply Favorite

Date: March 20th, 2018 12:35 AM
Author: Crusty messiness karate

class action taxact

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35643024)



Reply Favorite

Date: March 19th, 2018 10:51 PM
Author: vivacious aquamarine travel guidebook

Just looked at TurboTax taxable income: 110K

TaxAct's: 105K

It's clearly missing about 5K somehow

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35642223)



Reply Favorite

Date: March 20th, 2018 2:30 AM
Author: Thriller round eye

PLAUSIBLE DENIABILITY!!

(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35643406)



Reply Favorite

Date: March 20th, 2018 5:35 PM
Author: vivacious aquamarine travel guidebook



(http://www.autoadmit.com/thread.php?thread_id=3923272&forum_id=2#35647371)