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ybell
New Member

How is my federal income tax so high?

For 2023 taxes, I had taxable income of $37,550 and my "Federal Taxes You Owe" was $5,591. For 2024, my taxable income was $6,382 and my "Federal Taxes You Owe" is $4,254 - that's 70%! Is this a bug, or did I enter something incorrectly?

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3 Replies

How is my federal income tax so high?

Start by checking all of your own data entries---including anything you snapped a photo of or imported.   Look for misplaced decimals or added zeros.

**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.**
ybell
New Member

How is my federal income tax so high?

Thank you for your response. I have checked everything, and the "Federal Review" states that my Taxable Income is $6,382, which is correct. The problem is the TurboTax calculation of $4,254 from this value.

How is my federal income tax so high?


@ybell wrote:

Thank you for your response. I have checked everything, and the "Federal Review" states that my Taxable Income is $6,382, which is correct. The problem is the TurboTax calculation of $4,254 from this value.


Look at your actual tax return, Form 1040 Line 15 for taxable income and Line 16 for the taxes on the taxable income.

 

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

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