I want to post the correct amount on my income tax because if I post their amount, I will be subject to fines for underestimate my taxes. I have proof of the amount by going into my bank entries and copies the interest from the company. I do not want to pay extra income tax if I don't have to. It will also cause problems with the state
You'll need to sign in or create an account to connect with an expert.
Can you figure out the difference? Did they take federal and state taxes out of the payments? The taxable amount includes the tax withholding. Is box 1 right? Is box 2a the same as box 1? What code is in box 7?
It could be right if you had a loan that wasn't paid pack.
after doing alot of calculations, they offered 25% cash value which they didn't tell me that first they will give me all the interest and it doesn't equal 25%, the balance will be the principal amount. After calculating the base amount + interest - interest payments - principal payment it equals the balance on the account. I wish they would of told me.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Wyldaisy
Level 3
BroncoVegas
New Member
Ginawild
New Member
tech_360
New Member
jacobsoo
New Member