That is what I thought and why I think something is wrong. If I understand the appropriate portion of my $3012.50 earnings from Schedule C was added. The tax (above the tax on other income) for this amount was $450. The tax I paid calculated from from the 1040 ES was $426. In theory, TurboTax should have subtracted $426 from $450 and said I owed an additional $24 in taxes, right?
Instead, it appears TurboTax calculated that my 1040 ES should have been $426, so it ADDED $426 to $450 to get a total tax due (for this portion only) of $876. Then it subtracted $426 that I paid, so that it showed I owed an additional $450. Did TurboTax make a mistake?
