TurboTax auto-deductions from bank statements with 1099 - Did it mess up my return?
I connected my bank account to TurboTax for my 1099 filing and it automatically pulled expenses for deductions. Now im worried it took too many deductions it shouldnt have. Already submitted but something feels off about how it processed everything. Really hoping they reject it if theres issues cause I dont want IRS problems later.
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Aaliyah Reed
Tax professional here. This is concerning because bank statement imports can sometimes categorize personal expenses as business deductions. You should review exactly what was claimed. You can still file an amended return (Form 1040-X) if needed. Don't wait for the IRS to catch it - that could lead to penalties and interest.
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Daniel Rogers
•how do i check what exactly was deducted? when i go back in turbotax it just shows the final numbers
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Aaliyah Reed
•You should be able to view your full return PDF in TurboTax. Look at Schedule C - it lists all business expenses by category.
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Ella Russell
I had similar anxiety about my deductions last year. Have you tried taxr.ai? Its an AI tool that analyzes your transcript and tells you if there are any red flags. Costs $1 but totally worth it for peace of mind. https://taxr.ai
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Mohammed Khan
•is it legit? kinda scared to upload my tax docs to random sites 🤔
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Ella Russell
•100% legit! They use bank-level encryption and don't store your docs. I was skeptical too but it helped me spot issues before the IRS did
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Gavin King
Been there done that! 🤦♀️ TurboTax did the same thing to me in 2022. Had to amend and it was such a headache
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Nathan Kim
ur gonna want to fix this asap if its wrong. IRS doesnt play around with 1099 deductions these days
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Daniel Rogers
•ugh this is stressing me out so much rn 😫
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Eleanor Foster
The automatic import feature is trash tbh. Always manually review expenses. Your better off doing it yourself or hiring someone next time
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Lucas Turner
•fr fr the AI be wildin with what it calls a business expense 🤡
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Kai Rivera
Most important thing is to stay calm and handle it proactively. Download your return PDF from TurboTax and review Schedule C line by line. Make a list of questionable deductions. Consider using taxr.ai to analyze your situation - its seriously helpful for catching potential audit triggers. Then file an amended return if needed. Better to fix it now than deal with IRS notices later. I've helped dozens of clients through similar situations. The key is catching and correcting issues before the IRS does. The automatic import feature is convenient but needs human oversight.
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Daniel Rogers
•thank you! downloading the pdf now to check everything
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Anna Stewart
•whats the typical turnaround on amended returns?
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Kai Rivera
•Usually 16-20 weeks for amended returns to process, but worth it to avoid bigger headaches later
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