Hi, Saying my total tax due is $51,226 from 2 sources: 1. $49,103 total taxes before credits

[whanley7]

The $49,103 item seems correct.
I cannot find the L57J code anywhere on Turbotax or on any websearch, and there is no explanation for it. It is adding $2,123 to my taxes due...

[whanley7]

Sorry it cutoff my question for some reason. The problem is there is a code "L57J" adding $2,123 to my taxes due. I cannot find an explanation for this anywhere on Turbotax/websearch/IRS website). Does anybody know what this is? 

[SweetieJean]

That seems like an awfully high tax. What types of income did you have?

[SweetieJean · Accepted solution]

As an investor, you may owe an additional 3.8% tax called net investment income tax (NIIT). 

[whanley7]

Thanks this about lines up with the extra $2,123 I owe. I did not know about this tax. Not sure why TurboTax just throws out "L57J" and doesn't explain it as NIIT... 

[DMarkM1]

I'm not sure about the code, but the extra amount could very well be penalties for not paying taxes throughout the year.  You can verify on line 38 on your form 1040 or see it on your federal tax summary. You can view these by:

1. "Tax Tools" in the left hand menu

2. "Tools"

3. "View Tax Summary" in the main screen

4. "Preview my 1040" in the left hand menu or "Federal Tax Summary"

[SweetieJean]

Also see if there's anything on this form:

2021 Schedule 2 (Form 1040) (irs.gov)

[whanley7]

Thanks, I should be within the safe harbor for underpayment penalties as I withheld more than 110% of last years tax liability. It looks like this is due to the 3.8% NIIT tax. Although Turbo tax doesn't do a good job of pointing that out. I just saw code L57J with no other explanation.