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Total Taxes increase unexplanable
Worked my taxes. Taxable income percentage no change. Had 5.5% increased deductions over 2018. Appears the amount on the W-2 box 12b code D for 401k is a direct add on tax. It increased my tax burden. I ended up showing owing 346% more in taxes this year than last. I only contributed to a pre-tax 401k not a Roth 401K. With all the other numbers being equal. Is there an issue with the program and I need to take the amount out of 12b code D? The two year comparison sheet does not show a 401K amount in the Other Taxes block. I didn't take out any funds only contributed. Please let me know what I'm doing wrong.
‎June 8, 2020
7:26 PM