dmertz
Level 15

Get your taxes done using TurboTax

You paid tax withholding which is simply a down-payment on the overall tax liability determined on your tax return.  This withholding is credited on your tax return.  Default tax withholding is often insufficient to cover your tax liability which depends on all items on your tax return.  If your tax withholding and any estimated tax payments are insufficient to cover the tax liability, you will have a balance due.  

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