You'll need to sign in or create an account to connect with an expert.
The amount in box 38 is included in the amount of federal taxes owed or it reduces the amount of the federal tax refund.
If you have an amount of tax due on line 37 of your Form 1040, it includes the penalty that you see on line 38.
Thank you so much for your reply. I've never had this penalty in the 40 years that I've been filing taxes.
Thank you!!
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Kofian
New Member
freddytax
Level 1
davegoldfarb
New Member
1099erGirl
Level 3
KarenL
Employee Tax Expert
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.