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Get your taxes done using TurboTax
"Is taxable wages the same as line 43 - taxable income?"
NO, it's not the same. Form 1040 line 43 is taxable income after subtracting deductions and exemptions. When TaxCaster asks you for taxable wages, you have to enter the full amount from your W-2 box 1, before those subtractions. If you click the little blue "i" next to "taxable wages" on the TaxCaster screen, it tells you to use box 1 from your W-2. If you entered the line 43 amount from your tax return as taxable wages, you told TaxCaster that your income is much lower than it really is. That's why it thinks your refund will be so much higher.
NO, it's not the same. Form 1040 line 43 is taxable income after subtracting deductions and exemptions. When TaxCaster asks you for taxable wages, you have to enter the full amount from your W-2 box 1, before those subtractions. If you click the little blue "i" next to "taxable wages" on the TaxCaster screen, it tells you to use box 1 from your W-2. If you entered the line 43 amount from your tax return as taxable wages, you told TaxCaster that your income is much lower than it really is. That's why it thinks your refund will be so much higher.
‎June 4, 2019
1:56 PM