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New Member
posted May 31, 2019 7:07:28 PM

What happened to the money I withheld from every paycheck

On my W-4 I withheld money thinking that I was going to get it back at the end of the year what happened to that money?

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1 Best answer
Alumni
May 31, 2019 7:07:34 PM

All of the money that was withheld from your paycheck will be reported on your W-2 that you get from your employer. You may or may not get it back. The tax that you owe based on your income will be subtracted from the tax that you had withheld and if more was withheld than you owe, you get it back as a refund.

6 Replies
Level 15
May 31, 2019 7:07:30 PM

Have you entered your income into Federal>Wages & Income yet?  Did you enter it from your W-2 yourself?

New Member
May 31, 2019 7:07:31 PM

I imported it

Level 15
May 31, 2019 7:07:33 PM

And you checked to see if the information was really entered on your return?  If so, then Jerry2000 has your answer.

Alumni
May 31, 2019 7:07:34 PM

All of the money that was withheld from your paycheck will be reported on your W-2 that you get from your employer. You may or may not get it back. The tax that you owe based on your income will be subtracted from the tax that you had withheld and if more was withheld than you owe, you get it back as a refund.

New Member
May 31, 2019 7:07:34 PM

A perfect answer.

New Member
May 31, 2019 7:07:36 PM

Yup it is a perfect answer. Thank you.