topic Re: Return/Paying amounts in After you file

Return/Paying amounts

shanty4oh6 — Thu, 25 Mar 2021 02:04:06 GMT

I'm going to be using hypothetical number for this. So while I am filing my tax return, at the top it says you will be getting (let's say) $5000 for federal and that I OWE $200 for state. During the process it asks you for your bank information to pay for the $200 that is owed towards the state. Then when I am at the end of the process it show's now that I will be getting $4800 rather than the initial $5000 like it is removing state from the federal but I thought this wasn't possible? Can someone please help.

Re: Return/Paying amounts

ee-ea — Thu, 25 Mar 2021 02:46:22 GMT

The 4800 is just a running total of the funds involved. 5k inbound from the FED and the 200 which must be delivered to the state. You are right, TT does not touch either the refund or the payment due.

Re: Return/Paying amounts

VolvoGirl — Thu, 25 Mar 2021 02:48:20 GMT

At the end Turbo Tax just shows you the net federal and state combined. But that is only for your info. You will still get the full refund and need to pay a tax due.

Re: Return/Paying amounts

shanty4oh6 — Thu, 25 Mar 2021 02:59:31 GMT

Awesome! Thanks for the help.