Why does turbo tax show I owe taxes even before the input of income/w2?

Forum|Forum|4 years ago
February 26, 2022
3 replies
22 views

I have not input my W2 and turbo tax is already showing I owe taxes.

TurboTax Deluxe Online

SusanY1

Level 15

Did you by any chance have an IRA distribution in 2020 that you elected to report over a three-year period? This is one common reason you might see tax due before entering any other data.

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s_chahudAuthor

Level 2

No, I do not have any distributions carry over from previous years.

In this particular case, I had only filled out the demographics section, and TurboTax online was already showing a tax due amount.

SteamTrain

Level 15

And you are sure the number is not a refund?

Once any children are entered, the software may give you the full advanced child tax credit (and be chopped down later when you get to the part where you enter what you've already received)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*