Hi,
I am using Turbotax desktop and I fell there is an. error in the way TurboTax (TT) is calculating the total payments
Description of the issue is as follows"
Line 22 is the total federal taxes owed.
Line 23 is the Other taxes, which is my case is the additional medicare tax and NIIT
Line 25a - Federal tax withheld in W2
Line 25b - 1099 tax with held
Line 25c - Other forms... I fell the issue is here
for Line 25c, the taxes are taken from schedule 2
Schedule 2 has data from form 8959 and 8960
in 8959, line 24 is not reflected in 1040 line 25c.. only 8959 line 21 is reflected...
Thus, in 1040, line 25d is not a true representation of the taxes paid and does not take into account the additioal medicare taxes paid by me
This in essence increases the federal taxes due. this error needs to be fixed,
You'll need to sign in or create an account to connect with an expert.
Ok... So... Looks like I figured out the issue.. and things are all correct on the TT side...
So.. 1040 Line 25c is from the "Tax Payments" worksheet...
In my case, the 8959 line 21 was very close to the "Tax Payments" worksheet amount and hence the confusion.
it might help that TT can update the 1040/1040SR worksheet to direct to the "Tax Payments" worksheet when one double clicks on the form entry.. this will avoid the confusion that I had.
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.
h_resat
New Member
terriforzayden
New Member
badabbot82
New Member
CGF-DFP
New Member
mpapadop
Level 1