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Notice code 123
Notice code 123 (Default) — We changed the amount of capital gain or loss on page 1 of your tax return. There was an error in th…
What this IRS notice code means, and what to check before you reply.
What to do next
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123
Read the notice carefully and note any deadline. Gather returns, notices, and payment records. Book a free strategy session before responding if the amount is large, unclear, or collection language appears.
What the IRS language says
We changed the amount of capital gain or loss on page 1 of your tax return. There was an error in the transfer of the amount from your Form 4797, Sales of Business Property, to page 1 of your tax return.
What it usually means
123 is in our IR Manual catalog. Official wording is dense — we translate it for business owners and individuals and map realistic next steps.
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