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todd12
New Member

Can you please explain what feeds into the income taxes paid number?

 
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3 Replies
SusanY1
Employee Tax Expert

Can you please explain what feeds into the income taxes paid number?

This number comes from a number of places including:

  • Box 2 of Form W-2
  • Box 4 of Form 1099-R
  • Box 6 of Form SSA-1099
  • Entries made to the sections Estimates and Other Taxes Paid

There are a few other places that feed into this area, but these are the major ones. 

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Can you please explain what feeds into the income taxes paid number?

"Income Taxes Paid"

It doesn't add up.  Doesn't make any sense.

According to my records I haven't actually paid any 2019 taxes YET.  Getting ready to of course but haven't yet.

I have no W2s and no estimated tax payments.

The figure doesn't come close to matching my state and/or federal 2019 withholding total.

The figure doesn't match what I actually paid out for my 2018 taxes, of course, paid in 2019.

This figure has never popped up before in my prior years with Turbo Tax.

What is this?  How will it affect my tax computation?

BillM223
Employee Tax Expert

Can you please explain what feeds into the income taxes paid number?

If you had tax withholding done for a W-2 or a 1099-R or SSA-1099 or several other forms, then these are taxes you have paid. They are being held in escrow by the IRS until you file your return and the actual amount of tax assessed can be calculated. Once calculated, the withholding and other taxes paid are applied against the taxes assessed, and either you are given a refund or asked for more money.

 

So you say that you had taxes withheld - on what form?

 

Also, did you apply your refund from 2018 to your 2019 tax return?

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