Nice news from the IRS yesterday. About two months ago we received a letter about our 2017 taxes. Dear Mr. and Mrs E, we think you owe us about $7,000.
Turns out they were right that I missed reporting the cost basis for a mutual fund that we sold. But I wrote them back explaining that the mistake actually caused us to overstate our gain, so we didn’t think any additional tax would be owed. I was hoping they would just let it slide.More