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Get your taxes done using TurboTax
Ok. Then here is the problem. My self-employment income was approx $3,000. My estimated tax from the 1040ES was approx $426. Based on the changes to my estimated refund in TurboTax, Turbotax thinks I owe $876 in taxes for this amount. The crazy thing is that when I checked the FICA tables with the 1040 form, the difference in tax owed based on my total income before the $3,000 is $450. Therefore, Turbotax ADDED this $450 to the $426 from my 1040 ES. I would have expected it to see the $450 and subtract the $426 I already paid, and maybe say I owed another $24. Is Turbotax figuring this wrong?
‎June 6, 2019
8:30 AM