@AnnetteB6
Under Tax Tools > Tools > View Tax Summary I have a "Other Tax" line of $1,466. In researching what the "Other Tax" line is, I found the answer in the community below. Of particular interest is the third bullet point. I am afraid TurboTax is calculating a tax on an excessive deferral into the 403b. Can you please take a look?
The "Other taxes" line includes a range of taxes other than income tax, all which are collected via Form 1040. These include:
- Self-employment tax from Schedule SE,
- Unreported Social Security and Medicare tax,
- Additional tax on IRAs, other qualified retirement plans, and other tax-favored accounts,
