Any one else notice that their TT taxable income does not equal W-2 + interest income? Turbo is adding a random additional $5K to my wages

[rjs]

It's not clear exactly what your problem is. Taxable income, on Form 1040 line 15, is never equal to W-2 wages plus interest, because adjustments and deductions are subtracted to calculate taxable income.

First, go back to where you entered your W-2 in TurboTax and double-check that the amount in box 1 is entered correctly. If you have more than one W-2, check them all. Look for incorrect digits, transposed digits, extra digits, missing digits, or a misplaced decimal point. If all of the W-2 entries are correct, look at your Form 1040.

How do I preview my TurboTax Online return before filing?

• Which line on Form 1040 includes the extra $5,000? Is it exactly $5,000?
• How many W-2s do you have? What is the exact amount in box 1 of each W-2?
• What are the exact amounts on Form 1040 lines 1a, 1z, 2b, and 9?
• Is there an amount on any other line on Form 1040 lines 1b through 8? If so, what line, and what is the exact amount?

[Mike9241]

That's probably because there is $5,000 in box 10 of your W-2 for dependent care.  Once you enter the qualified amounts you spent on dependent care (Form 2441), the extra $5K will be reduced. The basic version of online may not support this form

[shaheenrobinson]

Thanks!  But actually my box 10 is blank.  I didn't use dependent care. 

[shaheenrobinson]

Thank you- yes, you are correct and I miss-phrased my question/ issue.

I only have one W-2, and uploaded it and verified the data transferred correctly.

My "TOTAL INCOME" is equal to my "ADJUSTED GROSS INCOME" and exceeds wages + interest by exactly $5K.  I cannot view the exact 1040 form with-out paying, and I don't want to pay unless i feel confident turbo tax is without error.  Is there any other way to get this granular visibility?  (I tried to talk to an agent, but again, turbo tax wants me to pay for an upgrade to do this, and I should be able to navigate within the platform to do so)

[rjs]

@shaheenrobinson 

You should be able to view your Form 1040 without paying by following the instructions at the link that I posted above. In step 4 use the second bullet, not the first bullet.

When you say W-2 box 10 is blank, are you looking at the W-2 in TurboTax, or at the W-2 you got from your employer? You have to check what's entered in TurboTax.

We haven't actually determined whether the problem is the W-2 or the interest, or something else. You won't know for sure until you look at the Form 1040. Bit check your interest entries in TurboTax and make sure they are accurate.

Another thing you can try is to go back to your W-2 in TurboTax. Delete the imported W-2 and re-enter it manually. See if that eliminates the problem. I know that's not ideal, but it only takes a few minutes and it often resolves a problem. Sometimes strange unexplainable things happen with imported forms. If you imported interest income, Form 1099-INT, try re-entering that manually also.

[shaheenrobinson]

excellent feedback- THANK YOU. I was able to find the 1040 on the screen, and indeed there was the $5,000 on line 26 for 'Dependent Care'...  Turns out the system was pulling in my retirement contributions into box 10 when i uploaded the form, despite box 10 being blank on my W-2.  This figure was $19K so i couldn't figure out where the $5K figure was sourced from initially.  Mystery solved!  Now i just need to try to get the 'chat with an expert' fee reimbursed, since you help me figure this out while on hold.