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Let's say the taxable Salary 83000. current Federal witheld 11000. Using Standard Deduction, taxable wages become 70050 and withheld should be 8000 don't I get 3000?

 
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2 Replies

Let's say the taxable Salary 83000. current Federal witheld 11000. Using Standard Deduction, taxable wages become 70050 and withheld should be 8000 don't I get 3000?

Sorry----we cannot see your tax return and cannot figure that out with such limited information.   We do not know your filing status, whether you have dependents, whether you received any other income, etc. etc. etc.    When you have entered ALL of your information your refund will be shown on line 35a of your Form 1040.

 

PREVIEW 1040

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
rjs
Level 15
Level 15

Let's say the taxable Salary 83000. current Federal witheld 11000. Using Standard Deduction, taxable wages become 70050 and withheld should be 8000 don't I get 3000?

Since you used a standard deduction of $12,950 I assume you are single, under 65 years old, and not blind.


I'm not sure what you mean by "withheld should be 8000." The amount of federal tax that was withheld from your pay is in box 2 of your W-2. Nothing on your tax return changes the amount of tax that was withheld. Do you mean that the tax on your tax return should be $8,000?


Did you look in the Tax Table in the IRS instructions for Form 1040 to find the tax on taxable income of $70,050? If so, it looks like you might have looked in the wrong column. The tax is $7,998 for married filing jointly. For single the tax is $11,034. So if your total withholding, on your W-2, was $11,000 you would owe $34.


We can't give accurate answers based on "let's say" and approximate or rounded numbers. If you still need help, please give exact amounts and specific line numbers on Form 1040. xmasbaby0 gave you instructions to look at your Form 1040 in TurboTax Online.

 

  • The total wages from box 1 of your W-2 are on Form 1040 line 1a.
  • If you have no other income and no adjustments, the same amount will be on line 1z, line 9, and line 11. Line 9 is total income and line 11 is Adjusted Gross Income (AGI).
  • Your standard deduction is on line 12 and taxable income is on line 15.
  • The tax on your taxable income is on line 16. The tax amount comes from the Tax Table.
  • If you don't have any other taxes or credits, the total tax on line 24 will be the same as line 16.
  • The amount of tax withheld from box 2 of your W-2 is on line 25a. If you have no other withholding and no other payments or refundable credits, the same amount will be on lines 25d and 33.
  • Your refund or amount you owe is determined by comparing the total tax on line 24 to the total payments on line 33.

 

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