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Notice code 122 (Default) — We changed the amount of capital gain or loss on page 1 of your tax return because there was an erro…
We changed the amount of capital gain or loss on page 1 of your tax return because there was an error on Schedule D, Capital Gains and Losses. The error was in the: - computation of the capital gain or loss
What this notice is saying
Use the free strategy session if the letter is unclear, high dollar, or collection language appears.
Read the deadline
Response or collection dates on the letter matter more than internet scare stories.
Match the facts
Compare the notice to your return, books, and third-party forms before you reply.
Pick a path
Pay, installment, relief, CNC, or hearing rights — fit-checked to your cash and liability.
Keep books honest
Resolution fails when the ledger cannot defend the story. We align numbers with the plan.
What to do next
Practical steps before fear takes the wheel. Bound from irs_notice.what_to_do.
Immediate steps
Resolves at publish from the catalog row.
What the IRS language says
We changed the amount of capital gain or loss on page 1 of your tax return because there was an error on Schedule D, Capital Gains and Losses. The error was in the: - computation of the capital gain or loss
What it usually means
122 is in our IR Manual catalog. Official wording is dense — we translate it for business owners and individuals and map realistic next steps.
Related
Related paths
Most IRS letters sit next to books, tax, or cash-flow stress.
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