muktax
Returning Member

reporting an error in TurboTax Basic as of 1/9/2024

Working on a return. Form 1040 shows the following: line 24 = 22,809 (total tax) line 33 =23,950 (total payments), line 34-36 all zero/blank, line 37=914 (amount you owe), and line 38=55 (estimated tax penalty). 

 

In fact, using basic arithmetic, line 37 should be -1,141, i.e., refund of 1,141 (with no penalty).

 

I suspect the problem has something to do with mishandling of line 19=2,000 (child tax credit) or, more likely, line 20=2,000 (energy efficient home improvement tax credit from line 5b on Sch.3, part I): 914-55+1,141=2,000??

 
To TurboTax staff: please fix this.